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ARK Buys $2.5 Million in Coinbase Shares as COIN Continues Rally
ARK has purchased $7.5 million in Coinbase shares this week, or approximately $28.25 million during the last month.
By Sam Reynolds
Updated May 9, 2023, 4:05 a.m. Published Jan 13, 2023, 8:55 a.m.
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Cathie Wood's crypto conviction continues as ARK made another Coinbase (COIN) buy Thursday.
Coinbase is now the 12th-largest holding for the ARK Innovation ETF (ARKK), behind CRISPR Therapeutics and game engine developer Unity, taking up 3.87% of the fund's weight. Overall, ARKK has a cost average of $254.65 for COIN.
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COIN closed at $47.55, up 8.6% on-day Thursday, or 23% during the past month. Analysts are predicting a mean price target of $61.46, according to data compiled by FactSet.
Barclays analyst Benjamin Budish said in a recent note that "next year is likely to remain challenging" for Coinbase, but "rising rates are set to be a material tailwind.”
Recently, Coinbase announced a big expansion of its European operations as a pillar of growth for 2023.
CORRECTION (Jan. 13, 2023, UTC 08:40): Corrects to say that Coinbase shares closed on Thursday at $47.55, not that they are currently trading. The U.S. markets were closed at time of publication.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Michael Saylor's Strategy catches a break from MSCI, but analysts caution fight isn’t over yet
MSCI won’t drop firms like Strategy from indexes yet, but a broader rule change may still be on the table
知っておくべきこと:
- Shares of Strategy rose 6% after MSCI decided not to exclude digital asset treasury firms from its indexes.
- The decision alleviates immediate pressure on companies holding large amounts of bitcoin but not directly operating in the blockchain sector.
- Analysts caution that the situation may not be resolved, as future MSCI rule changes could still impact firms like Strategy.
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