Ark Invest Increases Coinbase Stake by $13.3 Million Amid Market Volatility

Highlights:

• Ark Invest added $13.3 million in Coinbase shares during a global market downturn.
• Ark reshuffled its portfolio, buying Robinhood and selling Repare Therapeutics shares.
• Global markets saw sharp losses as Ark increased its stake in Coinbase amid volatility.

Cathie Wood’s Ark Invest added 84,514 shares of Coinbase Global Inc. on Monday, spending around $13.3 million across two of its exchange-traded funds (ETFs). This move took place during a global market slump, which saw significant losses in both equities and cryptocurrencies. According to Ark’s trade filings, the ARK Next Generation Internet ETF (ARKW) purchased 64,806 Coinbase shares, valued at approximately $10.2 million, based on the day’s closing price. Meanwhile, the ARK Fintech Innovation ETF (ARKF) added 19,708 shares, worth around $3.1 million.

Amid a global market downturn, Cathie Wood's Ark Invest purchased a total of 84,514 shares of Coinbase on Monday through two of its ETFs, with a combined value of approximately $13.3 million. ARKW acquired 64,806 shares, while ARKF bought 19,708 shares. As of Monday, Coinbase was…

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This purchase followed a similar one just days earlier, when Ark Invest acquired $13.4 million in Coinbase shares across three of its ETFs. Ark’s most recent disclosure shows that Coinbase now accounts for 5.92% of the ARKW portfolio, making it the fourth-largest holding in the fund.

Coinbase stands as the second-largest investment in ARKF with its 7.65% allocation. The current holdings of Ark Invest in Coinbase shares amount to over 3 million shares worth approximately $448.7 million. The continued investment in Coinbase stock by Ark demonstrates their faith in the company’s future despite current market fluctuations.

Ark Invest’s Broader Portfolio Adjustments

While Ark Invest added to its Coinbase position, it also made several moves across its other funds. On the same day it increased its Coinbase holdings, Ark sold 159,496 shares of the ARK 21Shares Bitcoin ETF (ARKB), valued at approximately $12.4 million. Ark adapted to changes in the market’s mood by shifting its allocations. The same day, ARKB witnessed outflows of $4.69 million as per SoSoValue data.

Ark also strategically adjusted the remainder of its portfolio in addition to adjustments in its crypto-specific funds. It also purchased shares of Robinhood, GitLab, and Prime Medicine and shaved its biotech and tech holdings. Additionally, Ark purchased 36,250 Robinhood shares for the ARK Innovation ETF (ARKK), worth nearly $1.4 million. It also upped its position in GitLab, buying 27,431 shares across ARKK and ARKW for about $1.2 million.

On the sell side, Ark decreased its position on several companies, including a move that saw it sell more than 119,000 shares of Repare Therapeutics (RPTX) and close out 343,318 shares of UiPath (PATH).

Global Market Slump Affects All Sectors

Global markets were hit by the market downturn that inspired Ark Invest’s moves. Stocks in Asia plunged sharply, with the Shanghai Composite tumbling 7.3% and the Nikkei 225 in Tokyo down 7.8%. The Dow Jones fell 0.91%, and the S&P 500 dropped by 0.23%, too.

Despite this, the Nasdaq put in a minor gain of 0.10%. The fresh round of new tariffs, including 25% on vehicle imports and 10% on other imports, unsettled markets and partly triggered the global sell-off.

In addition, the crypto market also took a big hit, as the price of Bitcoin briefly descended from $82,407 to around $74,300 before recovering to trade above $80,000. At press time, BTC is trading at $79,108, up by 3.92% in the past day. Despite the market volatility, Ark Invest’s moves show its continued belief in key assets, particularly Coinbase, as part of its long-term investment strategy.