Ark Invest used the low prices during yesterday's slump to acquire an additional 255,478 shares of Coinbase (COIN) between its two ETFs, the Ark Innovation ETF (ARKK) and the Ark Next Generation ETF (ARKW). The purchases of these shares were found via a subscription to the company's daily trade information.
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This purchase comes just over two weeks after news broke that Ark Invest had added 214,718 shares of Coinbase between ARKK and ARKW. This time the company has purchased even more, showing full confidence of a rebound.
The increase in holdings has boosted the ARKK Coinbase holdings from 3.6 million shares to over 3.8 million, while ARKW's Coinbase holdings increased from over 870,000 shares to over 900,000.
Coinbase now comprises 4.07% of the ARKK ETF holdings, up from 3.85% and it now makes up 3.76% of the ARKW ETF, up from 3.62%.