Three funds belonging to Cathie Wood's ARK Investment Management bought about $246 million worth of Coinbase (NASDAQ: COIN) on the day of the exchange's Nasdaq debut.
- According to the firm's daily trade summary, Ark Innovation ETF, Ark Fintech Innovation ETF and Ark Next Generation Internet ETF bought a combined 749,205 shares of the leading cryptocurrency exchange for around $246 million.
- The hotly anticipated Coinbase direct listing opened Wednesday afternoon at $381, rose to as high as $428.94 before falling to close at $328.05, still up about 50% over its reference point price of $250.
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