ARK Invest Buys $8.7M of Coinbase Shares During Crypto Market Dip

ARK Invest Swaps $8.7M Coinbase Shares for Bitcoin ETF Holdings Amid Crypto Market Decline

  • Ark Invest purchased $8.7 million worth of Coinbase shares during Tuesday’s crypto market decline.
  • The investment firm simultaneously sold $8.6 million of its spot Bitcoin ETF holdings.
  • Coinbase stock fell 6.5% to $212.49 during the broader cryptocurrency market downturn.
  • Bitcoin dropped to a three-month low below $87,000 amid market pressure.
  • U.S. spot bitcoin ETFs experienced their largest single-day outflow of $940 million since their January launch.

Cathie Wood’s investment firm demonstrated strategic portfolio rebalancing during Tuesday’s cryptocurrency market volatility, acquiring substantial Coinbase shares while reducing bitcoin ETF exposure.

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ARK Invest added 41,032 shares of Coinbase (COIN) to its Next Generation Internet ETF (ARKW), capitalizing on the stock’s 6.5% decline to $212.49. This purchase represents the firm’s most significant investment in Coinbase since August 5, when it acquired 93,800 shares for $17.8 million.

The move coincided with a broader cryptocurrency market correction that saw bitcoin retreat below $87,000, marking a three-month low. The market turbulence triggered unprecedented outflows from U.S. spot bitcoin ETFs, with SoSoValue data showing nearly $940 million in net withdrawals—the highest single-day exodus since their historic January 2024 launch.

In a parallel move, ARK divested 98,060 shares of its spot bitcoin ETF (ARKB), worth approximately $8.6 million, suggesting a tactical shift from direct bitcoin exposure to crypto-adjacent equity positions.

This trading pattern aligns with ARK’s historical approach of increasing positions in crypto-related companies during market downturns, viewing price dips as strategic entry points for long-term investment opportunities.

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