Cathie Wood's Coinbase buying has earned the cryptocurrency exchange a top 10 spot in the star fund manager's flagship ETF.
Wood — founder of Ark Invest — purchased 216,518 shares of Coinbase worth $50.5 million on Thursday for the ARK Innovation ETF, according to the firm. The amount in based on Thursday's closing Coinbase price of $233.40 per share.
She also purchased more than 38,000 shares for the ARK Fintech Innovation ETF.
Ark has been buying the pullback in the crypto currency exchange all week, a common practice for the "disruptive innovation" investor.
Wood has bought nearly $188 million of Coinbase in various funds since Monday. About $150 million of the Coinbase stake was bought in Ark Innovation — where Coinbase is now the 10th largest holding, accounting for nearly 3.5% of the ETF.