ARK Invest Puts $246M in Coinbase Shares
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ARK Invest, an actively managed ETF, has invested $246 million in Coinbase's (COIN) shares, Bloomberg has learned, citing an email letter. The firm has bought 749,205 shares of the exchange, which means that at a closing of $328.28 per share the ARK Invest has a stake worth approximately $246 million.

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The firm particularly made the investment via its three exchange traded funds (ETF): ARK Innovation ETF, ARK Fintech Innovation ETF and ARK Next Generation Internet ETF.

Coinbase, Fidelity and Square Form Crypto Alliance

As iHodl earlier reported, shortly after the launch, the price of COIN went above $400 but soon crashed by almost 13%. While Coinbase is the latest company to go public via a direct listing, it is the first public cryptocurrency exchange in the US. With market capitalization over $100 billion, Coinbase became way bigger than the New York Stock Exchange owner Intercontinental Exchange and Nasdaq.

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