Cathie Wood’s ARK Buys $13M in Coinbase Shares Amid Market Sell-Off

Cathie Wood’s ARK Investment Management seized the opportunity during the recent $5.4 trillion U.S. stock market sell-off, purchasing over 83,000 shares of Coinbase (COIN) despite a sharp market decline. The move highlights ARK’s continued confidence in the crypto sector, particularly in Coinbase, one of the most prominent U.S.-based cryptocurrency exchanges.

The total value of the shares purchased exceeds $13 million, based on Coinbase’s closing price on Friday. The purchases were revealed in ARK’s daily trading report for April 4. ARK’s flagship ARK Innovation ETF (ARKK) led the acquisition with nearly 55,000 shares, while the ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF) contributed additional buying activity.

Coinbase shares have dropped over 12% during the recent market downturn, triggered in part by geopolitical tensions. The broader market sell-off followed former U.S. President Donald Trump’s announcement of sweeping reciprocal tariffs against most global trading partners. Despite the broader equities rout, Bitcoin and other cryptocurrencies remained relatively resilient, showing less volatility compared to traditional stocks.

The CoinDesk 20 (CD20) index, which tracks the top digital assets, declined 5.8% during the same period, reflecting moderate pressure on the crypto market. ARK’s timely Coinbase buy underscores a strategic bet on a rebound in crypto stocks and continued adoption of digital assets.

As institutional interest in crypto assets grows, ARK’s aggressive accumulation of Coinbase shares may signal long-term bullish sentiment. Investors tracking crypto markets and blockchain innovation are closely watching ARK’s moves as a bellwether for sector confidence.

This bold move aligns with ARK’s history of buying the dip and reinforces its thesis on the transformative potential of blockchain technology and digital finance.