Cathie Wood has resumed purchasing shares of Coinbase (COIN) for her firm's exchange-traded funds, after having also bought them earlier this week.
Ark added a total of 150,192 COIN shares to its ARK Innovation ETF and ARK Next Generation Internet on Friday, consisting of 128,396 shares and 21,796 shares, respectively, according to its latest trade filing.
Shares for Coinbase closed down 3% to about $59 Friday. Based on the price at the close, Ark's most recent purchase cost just over $8.8 million. This comes after Ark bought Coinbase shares worth more than $13 million on Wednesday.
So far this year, ARK's Innovation ETF (ARKK) has gained 21% in value, while the ARK Fintech Innovation ETF (ARKF) has increased by 16%.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.