ARK Invest bought about 750,000 securities of the largest U.S. crypto exchange Coinbase for $245.6 million.
The shares were distributed among the three ETFs controlled by the firm. About 512,000 securities were allocated to the first Innovation, and the remaining 237,000 were divided between ARKW and Fintech Innovation.
Shares of the crypto exchange first appeared yesterday on the NASDAQ. Their sale started from more than $380, after which the price rose to $429, and closed the day at $315. Now the price of one COIN on the stock exchange is traded in the region of $328.
ARK is not the only investment giant interested in buying COIN. Amplify ETFs are also included among other investors. These are the most productive representatives of the cryptocurrency ETF space.
Today, ARK holds more than $50 million in assets, with fund growth averaging 150%.