US investment firm Ark Invest has added 129,604 Coinbase shares valued at over $8.4 million to its Ark Innovation exchange-traded fund.
Investment Company Ark Invest Continues to Acquire Coinbase Shares
Cathie Wood's Ark Invest bought another $8.4 million in Coinbase shares. Ark Invest added new shares to its Coinbase shares yesterday.
In addition, Ark Invest added 23,456 shares to its Next Generation Internet ETF and 15,809 shares to its Fintech Innovation ETF.
The total value of these investments exceeded $790,000. Details of the purchases arrived in a trade announcement emailed today.
Coinbase shares are currently trading at just over $50 per share after gaining nearly 50% this year.
Ark Invest has long been known as a company that bought Coinbase shares.
The firm, led by Cathie Wood, purchased approximately $8.6 million in shares of the publicly traded centralized crypto exchange late last month, the day Coinbase announced it was filing a lawsuit with the U.S. Securities and Exchange Commission.
On April 25, the Ark Innovation ETF purchased 122,083 shares in the company. The Ark Next Generation Internet ETF added 20,327 shares. Ark Fintech Innovation ETF bought 14,633 shares.
On the same day, Ark Invest also reported that it made another attempt to get its spot bitcoin ETF approved by teaming up with 21Shares.
Ark Invest and 21Shares failed to obtain SEC approval in their two previous filings.
*Not investment advice.