Cathie Wood loads up on the collapsing Coinbase, grabbing more than 500K shares

High-profile investor Cathie Wood continued her reputation as a crypto bull, swooping in to purchase 546K shares of the crashing Coinbase Global (NASDAQ:COIN) across three of her six actively managed ARK exchange traded funds on Wednesday. Wood and her team picked up shares of COIN for her flagship ARK Innovation ETF (NYSEARCA:ARKK). The buying also extended to her ARK Fintech Innovation ETF (NYSEARCA:ARKF) and her ARK Next Generation Internet ETF (NYSEARCA:ARKW). ARKK snatched up most of the shares of COIN, totaling 360,855 shares. Meanwhile, ARKF grabbed 123,122 shares and ARKW purchased 62,602 shares. COIN represents ARKK’s tenth largest holding, with a weighting of 3.80%. At the same time, it stands as ARKF’s fourth largest position, with a 6.71% weighting, and ARKW’s sixth most significant holding, at 5.54%. Coinbase has been in freefall of late as the crypto exchange platform has lost ground in five straight sessions. The decline has come amid