Ark Invest has continued to double down its bet on Coinbase with several increased ETF positions in the last few weeks. In late June the company added 214,718 shares of Coinbase to ARKK and ARKW. Then just last week it added another 255,478 shares of Coinbase to the same ETFs. Now, the firm is committing to that bet even further with another 206,410 shares of Coinbase to the same ETFs.
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A subscription to the comapny’s daily trade information has revealed these purchases.
The purchase adds 155,892 shares of COIN to the ARKK ETF, bringing its weighting from 4.07% to 4.22%. An additional 50,518 were added to the ARKW ETF, bringing its weighting from 3.07% to 4.16%. The increase in the ARKW ETF has bumped up its position to seventh place, beating Grayscale’s Bitcoin Trust.
This story is developing.