Investment Fund ARK Invest $246 Million of COIN shares

ARK Invest, a leading investment firm with the largest actively managed exchange-traded fund has purchased a massive amount of COIN shares.

The New York-based firm bought a record 749,205 COIN shares of Coinbase Global on the first trading day of  NASDAQ public listing.

The shares worth $246 Million are spread into three exchange-traded funds manage by the company.

The ARK Innovation ETF (ARKK)  holds 512,535 COIN shares, next is ARK Next Generation Internet ETF (ARKW) with 147,081 shares, and the ARK Fintech Innovation ETF (ARKF) with 89,589 shares.

Ark mainly backs “disruptive innovations” in the US, providing investors with exposure to businesses centered around revolutionary concepts such as artificial intelligence, robotics, and blockchain technology.

ARK was founded by Veteran fund manager Cathie Wood in 2014 and had amassed more than $50 million in assets as of February 2021.

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