ARK Invest Buys $8.6M Worth of Coinbase Shares
Main page News, Cryptocurrency Exchanges, Coinbase

Funds managed by ARK Invest have just bought around $8.6 million worth of shares of US cryptocurrency exchange Coinbase.

Catherine Wood's firm's structures have distributed the purchase as follows: the flagship ARK Innovation ETF has bought 122,083 shares, the ARK Next Generation ETF 20,327 shares and the ARK Fintech Innovation ETF 14,633 shares.

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ARK Invest purchased many Coinbase shares in late March during two sessions (on March 24 and 27). The company took advantage of falling share prices from around $84 to around $66.

Over the past 30 days, the exchange's share price has declined by about 15%, currently trading around $55.

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ARK Invest resumed buying Coinbase shares in October last year for the first time since June. The company steadily increased its positions in shares of the company and in March alone it disposed of a $13.5 million stake.

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