ARK Invest Resumes Coinbase Shares Purchases

ARK Invest has purchased a total of 268,928 Coinbase shares worth $17.8 million, dividing the purchase between their flagship fund Ark Innovation ETF (ARKK) and the Next Generation Internet (ARKW).

This came two days after a partial sale of $13.5 million worth of the crypto exchange shares.

Following the news of the SEC’s investigation into Coinbase’s listing procedure on the platform, its products – Coinbase Prime, Coinbase Wallet and the staking service Coinbase Earn – the company’s capitalization dropped 14.1%.

This comes a month after rival Kraken settled allegations regarding a staking program, for which the platform had to pay $30 million in fines.