As global equity markets reeled from a historic $5.4 trillion sell-off, Cathie Wood’s ARK Investment Management saw an opportunity—snapping up over 83,000 shares of Coinbase (COIN) valued at more than $13 million, based on Friday’s closing price.
This bold move came as Coinbase stock plummeted more than 12%, while the broader market tanked and cryptocurrency prices showed surprising resilience.
According to ARK’s daily trading report for April 4, the purchases were spread across three of its ETFs:
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ARK Innovation ETF (ARKK) acquired nearly 55,000 shares
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ARK Next Generation Internet ETF (ARKW) contributed additional buys
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ARK Fintech Innovation ETF (ARKF) rounded out the accumulation
Coinbase Shares Fall, Crypto Holds Firm
The timing of ARK’s purchase is significant. While equity markets suffered sharp declines triggered by U.S. President Donald Trump’s sweeping reciprocal tariffs, major cryptocurrencies like Bitcoin showed relative strength.
Despite the chaos, the CoinDesk 20 (CD20) index — a benchmark for major digital assets — dropped only 5.8%. In contrast, COIN’s steep fall created what ARK Invest appeared to view as a discounted entry point into a core crypto infrastructure play.
ARK Doubles Down on Long-Term Crypto Bet
Cathie Wood has long been an outspoken advocate for crypto and blockchain innovation. Her continued investment in Coinbase, even amid turbulence, reflects strong confidence in crypto as a foundational pillar of the future financial system.
Coinbase remains the largest publicly traded crypto exchange in the U.S., and its ecosystem supports a wide range of crypto services — including custody, trading, and staking — which ARK likely views as critical infrastructure for the next wave of digital finance adoption.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
