Ark Investments Purchases More Coinbase Shares

Ark Investment Management, is now holding $350 million worth of Coinbase shares. This was after the investment firm made an additional purchase worth over $110 million of the shares on Thursday.

Per a Reuters report, the Cathie Wood-led firm bought a total of 341,186 Coinbase shares, adding it to its previous holding of 749,205 shares which it had bought for $246 million. Cumulatively, the company now holds over a million shares of the crypto exchange company

The Coinbase shares holdings are spread across three of the investment fund ETFs. They are ARK Innovation ETF, ARK Fintech Innovation ETF, and ARK Next Generation Internet ETF.

The crypto exchange is trying to reward new users with over $1 million BTC as it celebrates its direct listing on Nasdaq. Its stock shares is trading for around $319 after it had reached a high of $430 on its opening day.


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