On Friday, Cathie Wood-led Ark Investment Management snapped up another 223,181 shares, worth about $50.7 million, in Coinbase Global Inc (NASDAQ: COIN) despite the fall in various cryptocurrency value.

The shares of Coinbase fell 31.7% since its introduction last month and closed 3.88% lower at $224.35 on Friday. Bitcoin, which is currently the leading cryptocurrency in market capitalization, traded as low as $31,227.34.

The New York-based investment firm, ARK Invest, has accumulated shares in the crypto exchange. They deal with their ETFs (NYSE: ARKK) and NYSE: ARKW. ARK Invest also trades Coinbase shares via NYSE: ARKF.

After the Friday purchase of Coinbase, the total amount of shares owned by ARK Invest are worth about $987.9 million. ARK Invest, a famous hedge funds, has Tesla Inc as its most significant holdings in various ETFs.