ARK Invest decided to buy back more shares of Coinbase

Funds managed by the ARK Invest organization have purchased shares of the Coinbase crypto exchange in the amount of more than $ 21.5 million. The total number is over 419 thousand shares.

Who bought what

According to the data, the funds distributed the purchase of shares of the Coinbase cryptocurrency exchange in this way:

  • The main part of the shares went to the ARK Innovation fund. The amount amounted to almost 330 thousand shares.
  • The Next Generation fund became the second in terms of the number of shares. Their amount amounted to almost 54 thousand shares.
  • The last one was Fintech innovation. She bought a little more than 35.5 thousand shares.

In total, the fund's data were able to get the securities of the site amounted to almost $ 650 million. On average, the cost of one share was about $ 250.

Fund managers decided to take advantage of the deteriorating position of the crypto exchange in the market. Its securities opened at the lowest values since the beginning of May. The decrease was 21 percent. By the time the session ended, the losses had decreased to 12%.

Recently, due to the announcement of a lawsuit from the SEC, the capitalization of the crypto exchange has fallen by 20%. Approximately the same value was made up of losses over the past year.

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