Cathie Wood’s ARK Investment Management took advantage of the $5.4 trillion U.S. equities market sell-off and purchased over 83,000 shares of Coinbase (COIN)
Cathie Wood's ARK Investment Management capitalized on the deep sell-off in the U.S. equities markets to buy more shares of Coinbase (COIN).
The firm, known for its bullish stance on technology stocks and unconventional investment strategies, purchased a total of 83,100 shares of Coinbase. The purchases, which were spread across three of ARK’s flagship ETFs, were valued at over $13 million.
According to the firm’s daily trading disclosures, nearly 55,000 shares of Coinbase were bought by Wood’s flagship ARK Innovation ETF (ARKK). Smaller tranches were added by the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF).
The timing is interesting. As the broader market prepares for a potential correction, Coinbase shares have slipped by more than 12% during the market rout. In the same period, bitcoin and other cryptocurrencies showed resilience. The CoinDesk 20 (CD20) index dropped by 5.8%.
The sell-off came after U.S. President Donald Trump announced his decision to impose reciprocal tariffs against nearly every country in the world. In response, major U.S. stock indexes fell sharply on Monday, setting the stage for further declines this week.output: Cathie Wood's ARK Investment Management took advantage of the $5.4 trillion U.S. equities market sell-off to buy more shares of Coinbase (COIN).
According to the firm’s daily trading disclosures, nearly 55,000 shares of Coinbase were bought by Wood’s flagship ARK Innovation ETF (ARKK). Smaller tranches were added by the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF).
The timing is interesting. As the broader market prepares for a potential correction, Coinbase shares slipped by more than 12% during the market rout. In the same period, bitcoin and other cryptocurrencies showed resilience. The CoinDesk 20 (CD20) index dropped by 5.8%.
The sell-off came after U.S. President Donald Trump announced his decision to impose reciprocal tariffs against nearly every country in the world. In response, major U.S. stock indexes fell sharply on Monday, setting the stage for further declines this week.
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