Cathie Wood-led hedge fund Ark Invest has bet big on two cryptocurrency-focused stocks across its portfolio and one of these stocks has returned the firm banger returns.
Wood’s Portfolio: Both Coinbase Inc. (NASDAQ:COIN) and Block Inc. (NYSE:SQ) are among the top holdings in Ark’s flagship ETF, the Ark Innovation ETF (NYSE:ARKK) alongside the ARK Next Generation Internet ETF (NYSE:ARKW) and the ARK Fintech Innovation ETF (NYSE:ARKF).
Coinbase stake accounts for 8.8% weight in ARKK ETF, next only to Tesla’s 8.9%, with the latest market valuation of $545 million.
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Block accounts for 5.16% of the fund at a valuation of $319.4 million. Via ARKW, Wood holds about $106 million worth of COIN and $64.3 million worth of SQ.
In ARKF, Coinbase is the top holding with a 10.86% weight and $84.1 million valuation and Block is the fourth largest holding with a 7.09% share and $54.9 million valuation.
How COIN Vs. SQ Returns Compare This ...