Cathie Wood’s Ark Invest Boosts Coinbase Holdings During Market Dip

Cathie Wood’s investment firm Ark Invest has made another significant move by purchasing more shares of Coinbase (COIN) during a market dip.

On Friday, as COIN shares fell by about 5%, Ark Invest acquired additional shares valued at $13.4 million for three of its exchange-traded funds (ETFs).

The ARK Innovation ETF (ARKK), Ark’s flagship fund, bought nearly 55,000 COIN shares worth approximately $8.8 million. This purchase boosts ARKK’s total Coinbase holdings to around $342 million, making up about 7.5% of the fund.

Meanwhile, the ARK Next Generation Internet ETF (ARKW) added nearly 16,000 COIN shares worth $2.5 million, and the Ark Fintech Innovation ETF (ARKF) acquired over 12,000 shares valued at $2 million.

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Besides Coinbase, Ark’s funds also picked up shares of Amazon, spending a combined $7.8 million, while offloading shares of automation software company UiPath. Coinbase now ranks as the second-largest holding in ARKF, accounting for 9.4% of the fund’s assets, with Shopify still holding the top spot at 13%. Ark typically aims to keep individual companies from exceeding 10% of a single fund.

This isn’t the first time Ark Invest has seized a buying opportunity with Coinbase. Earlier in March, the firm purchased more than $16 million worth of shares following a similar price drop. Although COIN once reached a peak of $343 in December, its current price has struggled, dropping about 5% over the past six months and recently dipping below a $30 billion market valuation for the first time since September 2024.

The latest purchase reflects Ark’s strategy of capitalizing on short-term market fluctuations to build long-term positions, particularly in innovative technology and digital assets.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.