Ark Invest Buys Additional Coinbase Shares Worth $13.4M Amid Broader Market Turmoil

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Sujha Sundararajan

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Sujha Sundararajan

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April 6, 2025

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Investor Cathie Woods’ Ark Invest has purchased additional Coinbase (COIN) shares worth $13.4 million across three of its exchange-traded funds.

The investment management giant bought over 83,157 shares of Coinbase, taking Coinbase’s closing price on Friday.

According to the company’s latest disclosures, ARK Innovation ETF (ARKK) purchased 54,988 shares worth $8.8 million.

Two other ETFs – the ARK Next Generation Internet ETF (ARKW) and the Ark Fintech Innovation ETF (ARKF) – have acquired 15,982 shares for $2.5 million and 12,187 shares for $2 million respectively.

Ark Invest ‘Buy the Dip’ Investment Strategy

The significant purchase comes at a time when crypto markets are witnessing a sharp plunge, as global markets reel from President Trump’s sweeping new tariff policies.

Bitcoin is holding precariously above the $77,000 mark after experiencing a sharp 6% slump in 24 hours, per Coinmarketcap data.

Further, Ark Invest also bought 54,120 shares of Amzon.com (AMZN) worth $9 million on Friday. Cathie Wood’s last two Amazon purchases were made in February when the company’s stock fell from an all-time high following a disappointing outlook.

Wood’s investment strategy is straightforward. The Ark ETFs typically buy shares in emerging high-tech firms in fields including blockchain, tech and AI.

Coinbase is “Second Largest Holdings” Within ARKF Fund

Last month, Ark Invest scooped up $11.5 million in Coinbase shares at the time when COINn plunged more than 17%. The company seized the opportunity to buy the dip in COIN, acquiring 64,358 shares across two of its ETFs.

Ark has been continuously accumulating Coinbase stock, with $8.7 million for its Next Generation Internet ETF (ARKW) in February.

Besides, Ark Invest restricts any single holding to no more than 10% of a fund’s portfolio. Further, within the ARKF fund, COIN is now the second-largest holding, comprising 9.4% of the fund. The fund’s top holding is Shopify, comprising 13% of the fund.