Ark Invest has just added 16,414 shares of US cryptocurrency exchange Coinbase to its portfolio.
The shares have reportedly been acquired by two of the company's structures - Ark Innovation ETF and Ark Next Generation Internet ETF. According to the closing price on February 13, the purchase has cost approximately $6.7 million.
The company's share price has fallen since the beginning of the month amid rumors of SEC claims against Coinbase's staking program.
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Brian Armstrong, CEO of the platform, has announced his readiness to defend the legality of the service in court.
On February 10, it became known that Coinbase's competitor Kraken had settled charges against the SEC. The exchange agreed to shut down its staking program and pay a $30 million fine.
Ark Invest acquired a stake in Coinbase in February for approximately $9.27 million.