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Ark Funds Spends $246M on Coinbase Stocks

According to an Ark Funds email, the firm bought a total of 749,205 COIN, totaling $246 million. Ark Funds Invests in Coinbase Ark Funds bought the stocks through three of its main funds: Ark Innovation ETF, Ark Fintech Innovation ETF, and Ark Next Generation ETF. COIN was trading at $328.28 per share at market close yesterday, which puts their stake at around $246 million.  Coinbase went public on NASDAQ yesterday after months of anticipation. Trading opened at $381 per share and quickly climbed above $400, putting its valuation over $100 billion. It then cooled off amid a market downturn across…

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