Cathie Wood's Ark Invest bought nearly $9 million of Coinbase stock as the crypto exchange pared gains on hot inflation data

• Cathie Wood's Ark Invest purchased 150,192 Coinbase shares on Friday.
• Coinbase is up 74% year-to-date, paring gains from its year-to-date peak. 
• Markets tumbled last week as key inflation data suggested tighter monetary policy ahead. 

Cathie Wood's Ark Invest scooped up nearly $9 million of Coinbase stock last week as the crypto exchange pared some if its big 2023 gains after markets dipped on hotter-than-expected inflation data. 

The famed money manager purchased 150,192 shares of the company on Friday, worth $8.7 million at market close. The buy was split between Wood's ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW).