Ark Invest Buys More Coinbase as Stock Drops

Cathie Wood’s Ark Invest has expanded its Coinbase holdings, purchasing an additional $5.2 million worth of COIN shares on Thursday, as the stock fell 7.43%.

The ARK Innovation ETF (ARKK) acquired 29,353 shares of Coinbase Global Inc., taking advantage of the price dip to bolster its position in the leading U.S. crypto exchange.

Ark also bought 143,855 Robinhood shares worth $5.18 million, further reinforcing its long-term bet on financial technology and digital asset platforms.

🔹 Coinbase closed at $177.49 (-7.43%)
🔹 Robinhood ended at $36.02 (-7.45%)
🔹 COIN down 31% YTD, HOOD down 8.6% YTD

Ark Invest Continues Accumulating Coinbase Shares

Thursday’s purchase follows Ark’s earlier buy-in earlier this week:

🔹 Monday, March 11:
✅ ARKK bought 52,753 COIN shares ($9.4M)
✅ Ark Fintech Innovation ETF added 11,605 COIN shares ($2.1M)

Ark Invest has consistently been one of Coinbase’s largest institutional supporters, even as COIN’s price has struggled amid a volatile crypto market.

Why is Ark Buying More Coinbase?

Despite Coinbase’s 31% drop year-to-date, Ark remains bullish on the stock.

Cathie Wood’s investment strategy is built on long-term growth themes, and Ark sees Coinbase as a key player in the expansion of the crypto industry.

In 2023, Wood reaffirmed Ark’s commitment to Coinbase, stating that the firm’s portfolio limits any single stock holding to 10%.

As of Thursday, Coinbase now accounts for 7.14% of ARKK’s holdings, making it the third-largest position in the fund.

Will Coinbase Rebound?

Coinbase has faced regulatory scrutiny, crypto market downturns, and increased competition, which have all contributed to its stock volatility.

However, with institutional interest growing in Bitcoin ETFs and crypto adoption expanding, some analysts believe COIN could see a rebound if crypto markets recover.

With Ark doubling down on its investment in Coinbase, all eyes are on whether this latest dip is a prime buying opportunity or if more downside lies ahead.