Cathie Wood's ARKInvest bought around $21.6 million worth of coinbase stock after the SECGov's lawsuit against the crypto exchange. By sheldonreback and thesamreynolds.
ARK bought 419,324 shares of Coinbase, worth around $21.6 million based on Tuesday's closing price of $51.61. The buy was split across ARK's Innovation ETF , the Next Generation Internet ETF , and the Fintech Innovation ETF .
The purchase, the first since May 3, took Ark’s total Coinbase holdings to 11.44 million shares, valuing the position at around $590 million.. According to the SEC, Coinbase acted as a broker, exchange and clearing agency simultaneously without registering as any such organization.Read more:
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