Investment firm Ark Invest continues to invest in crypto. For the second day in a row, the company bought shares from crypto exchange Coinbase for approximately $7.5 million.
Ark Invest Continues to Buy Coinbase Shares
Yesterday, Ark's Innovation exchange-traded fund added 112,949 shares worth approximately $5.8 million at current prices.
At the same time, the American investment management firm's Next Generation Internet ETF added 20,313 shares valued at more than $1 million, while the Fintech Innovation ETF added 13,875 shares valued at more than $712,000.
Information on purchases came via a transaction statement shared today.
Ark Invest had purchased approximately $8.4 million worth of Coinbase shares just a day ago. The firm later added 129,604 Coinbase shares to its Innovation ETF.
It also added 23,456 shares to its Next Generation Internet ETF and 15,809 shares to its Fintech Innovation ETF.
Coinbase's share price is currently hovering above $51 after seeing a year-to-date increase of over 50%.
Led by Cathie Wood, a regular buyer of Coinbase shares, the investment firm purchased approximately $8.6 million in Coinbase stock late last month.
This acquisition took place on April 25, when the publicly centralized crypto exchange announced that it would file a lawsuit with the U.S. Securities and Exchange Commission.
At that time, Ark's Innovation ETF bought 122,083 shares of the company, the Next Generation Internet ETF added 20,327 shares, and the Fintech Innovation ETF bought 14,633 shares.
The fact that Ark Invest is investing so much in Coinbase shares clearly shows that it thinks that Bitcoin will perform well in the future.
*Not investment advice.
