ARK Invest Bolsters Coinbase Holdings with $30M Purchase Amid Market Dip

ARK Invest has significantly increased its stake in Coinbase, acquiring nearly 200,000 shares over three days despite recent market volatility. The move highlights the firm’s confidence in the crypto exchange’s long-term prospects.

ARK Invest Adds $30M of Coinbase Shares in 3 Days

ARK Invest, an investment manager known for buying dips in markets, has purchased 199,401 Coinbase (COIN) shares over the past three days for a total of $31.51 million, based on closing prices. The shares were bought in increments of 83,157 on Friday, 84,514 on Monday, and 31,730 on Tuesday. The shares are now valued at approximately $29.3 million. ARK Invest aims to avoid any single holding accounting for more than 10% of an ETF’s total value and views dips in stock prices as buying opportunities. Coinbase shares have fallen over 15% in the last week amid broader declines in both cryptocurrency and equity markets.

Cathie Wood’s Ark Invest Adds Coinbase Shares Amid Market Volatility

Noted tech investor Cathie Wood and her actively managed Ark Invest ETFs reported the addition of nearly 200,000 Coinbase shares—around $31 million worth as of Tuesday’s close—over the course of the last three trading days due to President Trump’s trade war. The Ark Innovation ETF (ARKK), Ark Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF) all posted purchases of the leading American crypto exchange’s stock. Wood’s Ark Invest ETFs now hold in total 3,071,038 million shares of Coinbase as of April 9.