Cathie Wood Doubles Down on Coinbase

Ark Invest added over $8.3 million worth of Coinbase shares to three of its exchange-traded funds (ETFs).

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The investment company purchased 129,604 Coinbase shares for its Ark Innovation ETF worth over $6.4 million.

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The firm also acquired 23,456 shares for its Ark Next Generation Internet ETF and 15,809 shares for its Fintech Innovation ETF.

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Coinbase's share prices have gained nearly 50% this year and is currently trading over $50 per share.

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Ark Invest has been a long-time buyer of Coinbase stock. Currently, Coinbase is facing legal uncertainities.

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In April, the company bought around $8.6 million worth of Coinbase shares on the same day when Coinbase announced it was suing the U.S SEC

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Ark Invest and 21Shares teamed up for the third time to get SEC approval for a spot bitcoin ETF.

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