Reuters announced that today New York-based ARK funds acquired 341,186 Coinbase shares worth above $110 M.
Related: Coinbase CEO Responds to Peter Thiel's Opinion on Crypto
On April 14, when Coinbase stock (COIN.O) went public on Nasdaq, the firm sold some of its Tesla shares and obtained 749,205 shares of $246 M worth of Coinbase.After the second deal, the total number of ARK's Coinbase shares reached 1.000.000 worth of $350 M. Ark investment was founded in 2014 by Cathie Wood, who is a supporter of technology innovations.
The crypto exchange Coinbase was listed on the stock Market Nasdaq with a starting price of $381. On that day it reached about $430 and finished the day at $328.
Currently, a Coinbase share trades at over $332. In correspondence with April 12 data, the platform had a fully diluted capitalization of 261.3 million shares of Common Stock. Coinbase's listing on Nasdaq was an unprecedented case of any cryptocurrency firm's appearance on a U.S. stock market. Another thing to note is that while making this move, the platform's valuation was equal to that of Airbnb and Facebook at the time of their listings.