Cathie Wood’s Ark Invest purchased nearly $9 million in Coinbase stock last week, as the cryptocurrency exchange pared some of its big 2023 gains after markets dipped on hotter-than-expected inflation data. On Friday, the famed money manager purchased 150,192 shares of the company, valued at $8.7 million at market close. The investment was divided between Wood’s ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKN) (ARKW). The combined market value of Ark Invest’s Coinbase holdings across its eight funds is $547 million, with a 4.71% stake in the Nasdaq-listed company. The investment firm has been on a Coinbase buying spree, acquiring a total of $38.5 million, or 659,357 shares, this month alone.