Cathie Wood’s ARK Invest has bought $13,3 million worth of Coinbase shares amid the market crash on April 7

Crypto exchange securities were added to the company’s two funds: ARKW and ARKF

08.04.2025 - 11:25

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What’s new? Cathie Wood’s investment company ARK Invest has bought 84 514 shares of the leading US crypto exchange Coinbase (COIN) worth about $13,3 million through its two exchange traded funds (ETFs) amid a global market downturn on April 7. According to a recent report, ARK Next Generation Internet ETF (ARKW) bought 64 806 COIN worth $10,2 million and ARK Fintech Innovation ETF (ARKF) bought 19 708 COIN worth $3,1 million.

Material by The Block

What else is known? At the same time, ARKW sold 159 496 shares of the company’s own spot bitcoin exchange-traded fund called ARK 21Shares Bitcoin ETF (ARKB) for about $12,4 million. According to SoSoValue data, ARKB had a net outflow of $4,69 million on the previous day.

As of April 7, COIN had a 5,92% stake in ARKW’s portfolio, making it the fund’s fourth-largest asset. In the ARKF fund, Coinbase shares were the second-largest asset, with a 7,65% stake.

ARK Invest makes the largest purchase of Coinbase shares since the beginning of 2024 amid the falling crypto market

The company bought shares of the exchange for $8,6 million, having previously sold shares of its own BTC ETF for a similar amount

Coinbase shares are traded at $157,28 on Nasdaq, having lost 2,04% over the day. At the same time on the premarket they added 1,58% and reached $159,77. Since the beginning of the year, the securities have lost 38,7% of their value.

ARK’s purchase on Monday coincided with the global market decline. Asian stocks experienced their worst day in decades: the Shanghai Composite closed with a 7,3% drop, and Japan’s Nikkei 225 lost 7,8%. The Dow Jones Industrial Average fell 0,91% and the S&P 500 fell 0,23%. However, the Nasdaq Composite rose 0,1%.

The cryptocurrency market also experienced a major sell-off, with bitcoin dropping to $74 300 on Monday. However, the asset added 3,6% over the day and reached $79 083.

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