Cathie Wood-led Ark Investment Management on Thursday snapped up 69,172 shares, estimated to be worth about $15.5 million, in Coinbase Global Inc (NASDAQ:COIN) on the dip.
Shares of the cryptocurrency exchange closed 2.31% lower at $224.63 on Thursday.
The New York-based investment firm bought the shares via the Ark Innovation ETF (NYSE:ARKK) but also holds stakes in Coinbase via the Ark Fintech Innovation ETF (NYSE:ARKF) and the Ark Next Generation Internet ETF (NYSE:ARKW).
Together, the three ETFs held 5.46 million shares, worth around $1.26 billion, in Coinbase ahead of Thursday’s trades.
Goldman Sachs earlier this week noted that even if the prices of Bitcoin (CRYPTO: BTC) and other cryptocurrencies see further dips, Coinbase will continue to benefit from the volatility.
The popular investment firm also shed 791 shares, estimated to be worth about $600,092 in Nvidia Corp (NASDAQ:NVDA), on the day shares of the chipmaker fell.
Nvidia shares closed 4.41% lower at $758.65.
Ark Invest deployed the ARK Space Exploration & Innovation ETF (BATS:ARKX) to sell the shares of Nvidia. Ark Invest also holds shares of the chipmaker via the Autonomous Technology & Robotics ETF (BATS:ARKQ).
Together the two ETFs held 62,307 NVDA shares, worth $49.45 million, ahead of Thursday’s trades.