PANews reported on March 11 that according to The Block, as Coinbase's stock price fell 17.6% on Monday, Ark Invest bought another 64,358 shares of Coinbase on Monday, worth $11.5 million. Among them, Ark Innovation ETF (ARKK) bought 52,753 shares of Coinbase (US$9.4 million) and Ark Fintech Innovation ETF (ARKF) bought 11,605 shares of Coinbase (US$2.1 million).
According to the company's disclosure, Coinbase stock is currently the third-largest holding in its ARKK fund, with a weight of 7.1% and a value of approximately $375.1 million, behind Tesla and Roku. Coinbase stock is Ark's second-largest holding in its ARKF fund, with a weight of 7.7% and a value of approximately $65.7 million, behind Shopify. As the investment firm continues to rebalance its fund weights, Ark also bought $9.6 million worth of Robinhood stock and sold $20.6 million worth of Block stock.
