Ark Invest, the U.S. investment management firm led by Cathie Wood, has acquired more Coinbase shares, adding 129,604 shares worth over $6.4 million to its Ark Innovation ETF. The firm also added 23,456 shares to its Ark Next Generation Internet ETF and 15,809 shares to its Fintech Innovation ETF -- worth over $1.1 million and $790,000, respectively.

This follows Ark Invest's purchase of roughly $8.6 million in Coinbase stock late last month, on the same day Coinbase announced it was suing the U.S. Securities and Exchange Commission. Despite failing twice to get SEC approval for a spot bitcoin ETF, Ark Invest remains bullish on Coinbase stock.