Cathie Wood’s Ark Invest purchased 53,708 shares of Coinbase, valued at approximately $8.4 million, amid a volatile crypto market following the U.S. presidential debate on Tuesday.
The shares were allocated across three of Ark’s exchange-traded funds (ETFs). The investment breakdown from Ark’s trade filing shows that 38,475 shares, worth $6 million, were added to its flagship Innovation ETF (ARKK).
The recent purchase is Ark’s first activity involving Coinbase since early August, when it acquired $21.8 million worth of shares as the crypto market experienced a sharp dip, with Bitcoin briefly dropping below $55,000.
9,349 shares, valued at $1.5 million, were purchased for the Next Generation Internet ETF, and 5,884 shares, worth $925,000, went to the Fintech Innovation ETF.