ARK Invest Buys $13.4M in Coinbase Shares During Market Turmoil
- ARK Invest purchased 83,157 Coinbase shares worth $13.4M on April 4.
- The buy was split among ARKK, ARKW, and ARKF ETFs.
Cathie Woods ARK Invest has acquired Coinbase (COIN) shares worth $13.4 million across three of its ETFs. The move comes amid a broad market sell-off triggered by President Trumps new tariff policies. Despite the turmoil, ARK doubled down on its long-term crypto strategy.
According to ARKs daily trade report for April 4, the ARK Innovation ETF (ARKK) led the purchase. It acquired 54,988 shares valued at $8.8 million. The ARK Next Generation Internet ETF (ARKW) bought 15,982 shares for $2.5 million.
Meanwhile, the ARK Fintech Innovation ETF (ARKF) added 12,187 shares worth $2 million. Together, the ETFs purchased over 83,157 Coinbase shares, based on Fridays closing price. COIN closed the week with a double-digit decline of over 12%.
ARK Doubles Down on Coinbase
ARK Invest views the dip in Coinbase shares as a buying opportunity. The firm uses a strategy of acquiring high-tech stocks during market downturns. It also bought 54,120 shares of Amazon (AMZN) worth $9 million the same day. This reflects its ongoing approach of investing in companies focused on blockchain, AI, and innovation.
Coinbase remains one of ARKs top holdings across its ETFs. Within the ARKF fund, Coinbase now represents 9.4% of the portfolio. Shopify remains the largest at 13%. ARK maintains a self-imposed rule of not allowing any single holding to exceed 10% of a fund.
Last month, ARK bought $11.5 million worth of Coinbase stock during another price dip. It also added $8.7 million in Coinbase shares to its ARKW fund in February. These purchases demonstrate Cathie Woods sustained confidence in crypto infrastructure.
Coinbase is the largest publicly traded crypto exchange in the U.S. It offers services including trading, custody, and staking. ARK Invest continues to bet on Coinbase as a key player in the evolution of digital finance. The firms total Coinbase holdings under ARKK now stand at $342 million. This accounts for 7.5% of the ETFs portfolio.
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