ARK Invest Buys $3iQ Ether Pledge ETF Worth $21 Million

Investment firm ARK Invest recently made its first purchase of the $21 million Canadian 3iQ Ether Pledge ETF (ETHQ.U), while selling $14.6 million in shares in Coinbase. The 3iQ Ether Pledge ETF has grown significantly since its launch and is up about 40% year-to-date. The fund seeks to achieve long-term capital appreciation by investing in ethereum and generating passive income through pledges. ARK purchased 1 million and 651,713 shares of ETHQ.U through the ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF, respectively.