ARK Invest buys more Coinbase shares worth about $6.7 million

ARK Invest Cathy Wood добавила в портфель 16,414 акций крупнейшей американской биткоин-биржи Coinbase.

The shares were acquired by two of the firm’s structures — Ark Innovation ETF and Ark Next Generation Internet ETF. Based on the close on February 13, the purchase was about $6.7 million.

Coinbase’s shares have fallen since the start of the month amid rumors of allegations SEC against Coinbase’s staking program.

CEO Brian Armstrong said he is prepared to defend the service’s legality in court.

On February 10 it emerged that Coinbase’s rival Kraken settled the charges filed by the SEC. The exchange agreed to shut down its staking program and pay a $30 million fine.

In February, Cathy Wood’s firm already bought a stake in Coinbase worth around $9.27 million.

In October 2022 ARK Invest bought the exchange’s shares for the first time since June. In November, the firm’s structures spent another $21.4 million, in December — $3 million and $5 million.

In April 2021 Coinbase went public via прямой листинг на Nasdaq. On the first day of trading, shares closed at $328.28 per share.