ARK snaps up $246 million worth of Coinbase in market debut

ARK Invest purchased cryptocurrency alternate Coinbase
which went public on Wednesday, for 3 of the ARK exchange-traded funds, together with the flagship ARK Innovation ETF
ARK Invest purchased Coinbase inventory valued at $246 million for the ARK Innovation ETF, ARK Next Generation Internet ETF

and ARK Fintech Innovation ETF
ARK Invest CEO Cathie Wood spoke of Coinbase’s potential, in addition to volatility, in an interview with Bloomberg BNN on Wednesday. To make room, ARK offered $178 million shares of Tesla

on Wednesday, although the electrical automobile maker continues to be the highest holding of the ARK Innovation ETF and the ARK Next Generation Internet ETF.

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