ARK Invest Scoops Up Coinbase Shares Worth $31M Amid Market Slide
Cathie Wood’s ARK Invest has once again leaned into market weakness, purchasing nearly 200,000 Coinbase (COIN) shares over the past three trading days as the crypto exchange’s stock price tumbled alongside broader risk assets.
According to ARK’s daily trade disclosures, the firm acquired 83,157 shares on Friday, followed by 84,514 on Monday and 31,730 on Tuesday, bringing the total to 199,401 shares. Based on closing prices, the position cost around $31.5 million, but was marked down to roughly $29.3 million by Tuesday’s market close.
The aggressive buy comes as COIN shares dropped more than 15% over the past week, hit by a double whammy of sliding crypto prices and a sharp pullback in equities following President Trump’s sweeping new import tariffs. Bitcoin is down 8%, while the S&P 500 and Nasdaq have each plunged over 10% during the same period.
ARK’s move fits its signature strategy of buying high-conviction positions during periods of volatility, especially when weightings in its ETFs dip. The firm generally aims to keep no single position above 10% of any fund’s total assets.
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