Managed by ARK Invest, the flagship Ark Innovation ETF (ARKF) purchased 10,880 Coinbase shares, bringing the total position to $60.5 million or 8% of AUM.
According to documents filed with the SEC, across all funds the asset manager holds 7.7 million Coinbase shares with an average purchase price of $218.45. Over the past year the figure has risen by 2 million.
On October 25, Coinbase shares closed up 13.04%, at $75.05. The driver was Bitcoin’s rise above $20,000. Since the start of the year, shares have fallen 70.3%.
Earlier, Kathy Wood forecast Bitcoin’s market capitalization to reach $4.5 trillion.
ARK Invest sold Coinbase shares in July for about $75 million.
The decision came amid reports of a SEC investigation into the cryptocurrency exchange’s activities.
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