Ark Invest Buys $6.9 Million Worth of Coinbase Stock

Odaily News: On Tuesday, Ark Invest purchased 41,453 shares of Coinbase stock through three of its exchange-traded funds (ETFs), valued at approximately $6.90 million. The specific purchases were as follows: the Innovation ETF (ARKK) bought 29,689 shares worth $4.90 million; the Next Generation Internet ETF (ARKW) bought 7,525 shares worth $1.20 million; and the ARK Fintech Innovation ETF (ARKF) bought 4,239 shares worth $704,000. This move reverses the institution's position of reducing its Coinbase holdings earlier this month. Currently, Coinbase stock represents 4%, 3.7%, and 5.6% of the holdings in the ARKK, ARKW, and ARKF funds, respectively.