Cathie Wood's Ark Invest purchased 28,315 shares of Coinbase (COIN), valued at approximately $7.5 million, for its ARK Innovation ETF (ARKK) on December 3. This move signals renewed institutional interest in the cryptocurrency exchange. The investment coincides with a significant rebound in the cryptocurrency market. Bitcoin surged past $92,000, and Ethereum reclaimed the $3,000 level, driving positive sentiment across the sector. This broad market recovery is a key factor supporting the performance of crypto-related equities like Coinbase, as it typically leads to higher trading volumes and platform activity.