Cathie Wood’s Ark Invest has acquired 84,514 shares of Coinbase Global Inc., valued at approximately $13.3 million, across two of its exchange-traded funds (ETFs) during Monday’s sharp market downturn.
According to Ark’s latest trade filings, the ARK Next Generation Internet ETF (ARKW) purchased 64,806 Coinbase shares, worth around $10.2 million based on Monday’s closing price.
Meanwhile, the ARK Fintech Innovation ETF (ARKF) picked up 19,708 shares, amounting to about $3.1 million.
This comes after Ark Invest bought $13.4M worth Coinbase shares on Friday.
Ark Invest Offloads $12.4M in Bitcoin ETF Shares Amid Market Volatility
At the same time, Ark sold 159,496 shares of the ARK 21Shares Bitcoin ETF (ARKB), worth roughly $12.4 million.
Data from SoSoValue indicated the ARKB fund experienced net outflows of $4.69 million on the same day.
As of Monday, Coinbase made up 5.92% of ARKW’s portfolio—ranking as its fourth-largest holding—and 7.65% of ARKF, making it the fund’s second-largest position, based on Ark’s most recent disclosure.
Coinbase shares ended Monday down 2.04% at $157.28, but saw a 2.68% gain in after-hours trading, climbing to $161.50, according to Google Finance.
The strategic buy occurred during a turbulent session across global markets.
Asian equities suffered steep losses, with China’s Shanghai Composite down 7.3% and Japan’s Nikkei 225 sliding 7.8%.
In the U.S., the Dow Jones fell 0.91% and the S&P 500 edged down 0.23%, while the Nasdaq eked out a 0.10% gain.
Meanwhile, the crypto market also plunged on Monday. Bitcoin briefly dropped to around $74,300 but later rebounded to trade above $80,000, gaining 3.64% in the past 24 hours.
Last week, Ark Invest also purchased Coinbase shares worth $13.4 million across three of its exchange-traded funds.
ARK Innovation ETF (ARKK) purchased 54,988 shares worth $8.8 million. Two other ETFs – the ARK Next Generation Internet ETF (ARKW) and the 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 Crash on Monday
Cryptocurrency markets faced a brutal correction on what’s being dubbed “Black Monday,” with total liquidations exceeding $1.36 billion in the day.
President Donald Trump recently unveiled a sweeping tariff package that includes a 25% levy on vehicle imports, a minimum 10% tariff on all imports, and “reciprocal tariffs” aimed at countries imposing duties on U.S. goods.
These measures have rattled markets, leading to capital flight from riskier assets like crypto and a pivot toward safe-haven plays such as gold and the Japanese yen.
As reported, over $1.2 billion of long bets were wiped out, with Bitcoin longs accounting for more than $392 million in losses.
Crypto wasn’t alone in the selloff. U.S. stock futures also plunged Sunday night, heightening fears of a broader market crash.
S&P 500 futures fell 5.98%, Nasdaq 100 futures slid 6.2%, and Dow futures dropped 5.5%, all pointing to a chaotic start to the trading week.
Meanwhile, prominent hedge fund manager and Trump supporter Bill Ackman publicly urged the administration to pause the tariff escalation for 90 days, warning that the current trajectory could spark an “economic nuclear winter.”
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