Funds managed by ARK Invest have just bought a total of 420,949 Coinbase shares valued at $21.4 million.
The company reportedly bought 330,461 shares through Ark Innovation ETF (ARKF), 54,466 through Next Generation Internet (ARKW) and 36,022 through Fintech Innovation (ARKF).
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The shares of the US cryptocurrency exchange closed the November 8 trading session down 10.8%.
In pre-market trading, the stock is valued at $48.50, down 4.6% from Tuesday's closing price. Since the beginning of the year, the platform's shares have lost 80% of their value.
ARK Invest bought Coinbase shares in October for the first time since June.
The exchange's Q3 2022 net loss totaled $545 million, up from $1.1 billion in the year-earlier period.