ARK Invest Uses Coinbase Stock Price Decline to Buy, Adding $30M in Shares in Three Days
Investment firm Cathie Wood has bought 199,401 shares in the past three days as the stock has slumped.
Jamie Crowley | Edited by Sheldon Rebeck on April 9, 2025, 9:21 AM
Key points:
- ARK Invest, a fund known for its “buy the dips” strategy, has purchased 199,401 Coinbase shares over the past three days.
- On Friday, ARK Invest bought 83,157 shares of COIN, then added 84,514 and 31,730 shares on Monday and Tuesday, respectively.
- Coinbase shares have fallen more than 15% over the past week.
Investment manager ARK Invest, known for its strategy of buying stocks during market declines, has purchased 199,401 shares of Coinbase (COIN) over the past three days.
The firm, led by Cathie Wood, bought 83,157 shares of the crypto exchange on Friday, followed by 84,514 and 31,730 shares on Monday and Tuesday, respectively, according to daily reports emailed to the firm. Based on closing prices, the shares would have been worth a total of $31.51 million. They are currently valued at about $29.3 million based on Tuesday's close.
The St. Petersburg, Florida-based company aims to avoid a situation where one particular custody account takes up more than 10% of the total value of an exchange-traded fund (ETF). When the price of a particular stock drops, that becomes a buying opportunity for ARK.
Coinbase shares have fallen more than 15% in the past week as cryptocurrency and stock markets have been battered by high import tariffs imposed by US President Donald Trump.
BTC is down about 8% from last week, while the S&P 500 and Nasdaq are down more than 10%.
More Info: Cathie Wood's ARK Buys Over $13M in Coinbase Stock During Market Crash
