The asset-management firm Ark Invest, through three exchange-traded funds, added 341,186 Coinbase shares worth $110 million. Reuters reports.
According to the publication, Ark Invest holds Coinbase shares valued at more than $350 million, based on a closing price of $322.75 per share.
Earlier, the Ark Innovation ETF, Ark Fintech Innovation ETF, and Ark Next Generation Internet ETF bought 749,205 Coinbase shares.
Founded by Cathie Wood in 2014, Ark Invest focuses on investing in disruptive technologies, including artificial intelligence, robotics, fintech and blockchain. Under its strategy, the firm buys shares it expects to double in value over a five-year horizon.
Assets under management exceed $50 billion. In February, the firm increased its holdings in the Grayscale Bitcoin Trust to 7.31 million shares.
In April, Coinbase direct listing on Nasdaq took place. The opening price was $381. The day’s low was $310 and the high $429.54.
Earlier, Nasdaq set Coinbase’s reference price at $250, implying a $66 billion valuation.