Cathie Wood’s Ark Invest has made headlines by acquiring 84,514 shares of Coinbase Global Inc., a purchase valued at approximately $13.3 million, across two of its exchange-traded funds (ETFs) during a significant decline in the market on Monday.
Recent trade filings from Ark reveal that the ARK Next Generation Internet ETF (ARKW) purchased 64,806 shares of Coinbase, amounting to around $10.2 million based on the closing price from Monday. Subsequently, the ARK Fintech Innovation ETF (ARKF) added 19,708 shares, which is valued at about $3.1 million. This latest investment comes on the heels of a previous acquisition of $13.4 million worth of Coinbase shares by Ark on Friday.
Ark Invest Liquidates $12.4 Million in Bitcoin ETF Shares Amid Market Instability
As of the latest update, Coinbase represented 5.92% of ARKW’s total portfolio, making it the fund’s fourth-largest holding, while comprising 7.65% of ARKF, solidifying its position as the second-largest holding in that fund based on Ark’s most recent disclosures.
Despite the day’s challenges, Coinbase shares concluded trading down 2.04% at $157.28 but showed signs of recovery with a 2.68% gain in after-hours trading, reaching $161.50, according to Google Finance.
Here’s what moves Cathie Wood and @ARKInvest made today 4/7 pic.twitter.com/hf0HRflInV
— Ark Invest Daily (@ArkkDaily) April 8, 2025
This strategic acquisition took place amid a turbulent trading session across global markets. Asian equities faced significant declines, with China’s Shanghai Composite falling 7.3% and Japan’s Nikkei 225 dropping 7.8%.
In the United States, the Dow Jones Industrial Average decreased by 0.91%, while the S&P 500 slipped 0.23%, and the Nasdaq managed a slight uptick of 0.10%.
Additionally, the cryptocurrency market also experienced a sharp downturn on Monday, with Bitcoin temporarily dropping to about $74,300 before rebounding to trade above $80,000, reflecting a 3.64% gain over the last 24 hours.
Last week, Ark Invest conducted another significant acquisition of Coinbase shares worth $13.4 million across three of its ETFs. The ARK Innovation ETF (ARKK) purchased 54,988 shares valued at $8.8 million. The other two ETFs, ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF), acquired 15,982 shares for $2.5 million and 12,187 shares for $2 million, respectively.
Crypto and U.S. Stocks Experience Historic Drops on Monday
Cryptocurrency markets faced a brutal correction on what is being referred to as “Black Monday,” with total liquidations surpassing $1.36 billion in a single day.
Amid these declines, President Donald Trump recently introduced a sweeping tariff package that includes a 25% tariff on vehicle imports and a minimum 10% tariff on all imports, along with reciprocal tariffs targeting nations that impose duties on U.S. goods. These announcements have shaken markets, resulting in a significant outflow of capital from riskier assets like cryptocurrencies and a shift toward safer investments such as gold and the Japanese yen.
Reports indicate that over $1.2 billion in long positions were liquidated, with Bitcoin longs accounting for more than $392 million in losses.
U.S. stocks were not spared from the selloff either, as futures plummeted on Sunday night, raising concerns of a broader market crash. S&P 500 futures fell 5.98%, Nasdaq 100 futures dropped 6.2%, and Dow futures declined by 5.5%, suggesting a chaotic opening for the trading week.
In response to the escalating situation, prominent hedge fund manager and Trump ally Bill Ackman publicly called for a 90-day pause on the tariff increases, warning of the potential for an “economic nuclear winter” if the current trajectory continues.
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