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April 15, 2021, 2:59 a.m. EDT

ARK snaps up $246 million worth of Coinbase in market debut

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By Steve Goldstein

ARK Invest bought cryptocurrency exchange Coinbase /zigman2/quotes/225893452/composite COIN -3.92% , which went public on Wednesday, for three of the ARK exchange-traded funds, including the flagship ARK Innovation ETF /zigman2/quotes/204808965/composite ARKK -0.96% . ARK Invest bought Coinbase stock valued at $246 million for the ARK Innovation ETF, ARK Next Generation Internet ETF /zigman2/quotes/201846852/composite ARKW -1.00% and ARK Fintech Innovation ETF /zigman2/quotes/205650811/composite ARKF -0.43% . ARK Invest CEO Cathie Wood spoke of Coinbase's potential, as well as volatility, in an interview with Bloomberg BNN on Wednesday . To make room, ARK sold $178 million shares of Tesla /zigman2/quotes/203558040/composite TSLA -2.19% on Wednesday, though the electric vehicle maker is still the top holding of the ARK Innovation ETF and the ARK Next Generation Internet ETF.

/zigman2/quotes/225893452/composite
US : U.S.: Nasdaq
$ 248.24
-10.13 -3.92%
Volume: 8.83M
May 17, 2021 4:00p
P/E Ratio
85.47
Dividend Yield
N/A
Market Cap
$51.47 billion
Rev. per Employee
$1.02M
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/zigman2/quotes/204808965/composite
US : U.S.: NYSE Arca
$ 103.31
-1.00 -0.96%
Volume: 16.24M
May 17, 2021 4:00p
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/zigman2/quotes/201846852/composite
US : U.S.: NYSE Arca
$ 127.31
-1.29 -1.00%
Volume: 959,463
May 17, 2021 4:00p
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/zigman2/quotes/205650811/composite
US : U.S.: NYSE Arca
$ 46.23
-0.20 -0.43%
Volume: 1.13M
May 17, 2021 4:00p
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/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 576.83
-12.91 -2.19%
Volume: 32.39M
May 17, 2021 4:00p
P/E Ratio
577.35
Dividend Yield
N/A
Market Cap
$568.11 billion
Rev. per Employee
$445,694
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