ARK Invest has purchased 419,324 shares of Coinbase, totaling $21.64 million.
These shares were divided up, with ARK Innovation taking 329,773 shares, ARK Next Generation taking 53,885 shares and ARK Fintech Innovation taking 35,666 shares, giving ARK Invest a total of $647 million worth of securities from the platform.
The average purchase price ranged from $243 to $254. This investment was largely driven by the market decline, as Coinbase opened at its lows since May, dropping 21%, and finishing the session with a 12.1% loss, down to $51.61.
Coinbase’s overall capitalization has fallen by 20% over the days following the SEC’s lawsuit claiming the exchange violated certain securities laws.
The lawsuit targeted certain tokens, listing SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO, and later, Binance.
