ARK Invest, the investment management company founded by Cathie Wood, purchased $8.7 million worth of Coinbase shares on Tuesday amidst a decline in the cryptocurrency market. They added 41,032 COIN shares to their Next Generation Internet ETF, while selling 98,060 shares of their own spot bitcoin ETF. The crypto market rout resulted in bitcoin hitting a three-month low and record outflows from spot bitcoin ETFs in the U.S. Despite the market decline, ARK saw an opportunity to make its largest COIN purchase since August 5th.



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