Cathie Wood’s ARK Invest Acquires Over $13 Million in Coinbase Shares
Cathie Wood’s ARK Investment Management purchased over 83,000 shares of Coinbase (COIN) amid a $5.4 trillion U.S. equities market sell-off, totaling more than $13 million.
- ARK Innovation ETF (ARKK) acquired nearly 55,000 shares.
- Additional shares purchased by ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF).
- Coinbase shares fell over 12% during the sell-off.
- Bitcoin and other cryptocurrencies remained relatively stable; the CoinDesk 20 index dropped by 5.8%.
- The market decline followed U.S. President Trump's announcement of reciprocal tariffs.