The ARK Invest fund, called Ark Innovation ETF (ARKF), has replenished its portfolio with shares of the Coinbase crypto exchange, and the ARK Next Generation Internet ETF (ARKW) has bought additional securities of the Robinhood online broker. This is reported The Block.
According to the trade notice, ARKF purchased 47,568 units of the asset. ARKW also bought 8,031 shares of the exchange in addition to 1.06 million shares of Robinhood.
Coinbase shares closed at $61.89 on March 7, while Robinhood shares fell to $9.42, down more than 3%.
Based on this data, the fund spent a total of $3.44 million on Coinbase and $9.97 million on Robinhood.
In October 2022, the management company bought securities of the exchange for the first time since June. In November, ARK Invest structures spent another $21.4 million for these purposes, in December – $3 million and $5 million.
In February, the company invested $6.7 million and $9.27 million in the platform. By the end of the month, ARK Invest acquired $16.9 million worth of Coinbase shares.
Recall that the net loss of Coinbase in the fourth quarter of 2022 amounted to $557 million, which turned out to be more positive than market expectations.
Source: Cryptocurrency
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