Pexels.com
Main page News, Exchange, Cryptocurrency Exchanges

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.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

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.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Strawberry Cake Media Corp. © 2024 Cookie Policy Editorial team Archive

ihodl.com is an illustrated edition about cryptocurrencies and financial markets.
Every day we publish the best materials for everyone interested in economy.