ARK Invest acquired $3,000,000 worth of Coinbase shares

ARK Invest's main fund, the Ark Innovation ETF, has announced the acquisition of 78,982 Coinbase shares for a total of $3,000,000. After the ARK Invest division made such a large purchase, the total position in Coinbase shares is 5,700,000 units.

At the time of writing, one share of Coinbase is valued at $41.76. In total, ARK Invest holds $238,032,000 of Coinbase shares. The investment fund did not invest in Coinbase shares from June to November. Last month, ARK Invest spent $21,400,000 on shares of the cryptocurrency platform.

It is noteworthy that at the beginning of 2022, the share price was $251 per unit and lost about 84% in price over the year.

Despite these negative performances, Coinbase CEO Brian Armstrong reported no influence from the FTX cryptocurrency exchange on their platform. He also reported a halving of revenue for 2022 compared to 2021.

According to Armstrong, the third quarter of 2022 brought the company big losses in the amount of $545,000,000, but this is 2 times less than in the second quarter. In a more unfortunate period of time, Coinbase suffered losses in excess of $1,100,000,000.