ARK Invest buys Coinbase shares for a second consecutive day

ARK Invest-controlled funds bought more Coinbase securities for a second day running — today for $7.5 million.

Prior to that, the venture firm purchased shares of the trading platform for $8.3 million.

Cathie Wood’s funds allocated assets as follows:

• The flagship ARK Innovation ETF — 112,949 shares for $5.8 million;
• ARK Next Generation ETF — 20,313 shares for $1 million;
• TF ARK Fintech Innovation — 13,875 shares for $712,000.

The company purchased Coinbase securities at a price of $51.31. At the time of writing, the asset was trading below $50.

In late April, Cathie Wood’s funds bought more Coinbase securities for $8.6 million. The deal occurred on the same day Coinbase filed a lawsuit with the SEC.

In May, Coinbase user Michael Massell filed a lawsuit against the company over privacy laws arising from the Know Your Customer (KYC) procedure. KYC.