Cathie Wood's Ark Invest purchased more shares of cryptocurrency exchange Coinbase on Thursday than it did in January, according to a transaction report.
The firm bought 301,437 Coinbase shares for its ARK Innovation ETF and 52,525 shares for its Next Generation Internet ETF, totaling over 350,000 shares. The purchase, valued at $20.6 million, is the biggest one-day purchase this year.
Ark Invest now owns 9.9 million Coinbase shares, worth $575 million. However, Coinbase shares fell almost 8% on Thursday due to the recent collapse of Silvergate Bank, which has caused ripples in the crypto market.