- Ark Invest buys $13.3 million more Coinbase (COIN) stock during market dip last Friday
- COIN now second largest holding in ARKF ETF (9.4 percent), nearing Ark’s position cap
- Cathie Wood stays bullish on Bitcoin/ETH/SOL, warns memecoins could go to zero
Cathie Wood’s Ark Invest stepped up its Coinbase (COIN) buying last Friday, adding $13.3 million worth of the crypto exchange’s stock across three of its ETFs during a broader market pullback that saw COIN shares drop roughly 5%.
How Much COIN Shares Did Ark Buy?
Ark’s flagship ARK Innovation ETF (ARKK) bought 54,988 COIN shares, worth about $8.8 million at Friday’s prices. Two other funds added to positions: the ARK Next Generation Internet ETF (ARKW) purchased 15,982 shares (~$2.5 million), and the ARK Fintech Innovation ETF (ARKF) acquired 12,187 shares (~$2 million), according to Ark’s daily trade disclosures.
Related: ARK Invest Buys $80M in Bitcoin from Coinbase in a Single Day
How Big is COIN in Ark’s ETFs Now?
These purchases significantly increase Coinbase’s weight in Ark’s portfolio. COIN now represents about 7.5 percent of ARKK ($342 million stake) and has become the second-largest holding in ARKF at 9.4 percent, just behind Shopify (13%). Ark’s internal strategy typically caps single stock positions near 10%, meaning COIN is approaching that threshold in ARKF.
The ETFs also adjusted other holdings. All three funds bought shares of Amazon, totaling $7.8 million. Simultaneously, they reduced positions in automation software company UiPath.
What’s the Context for Coinbase Stock?
Ark’s decision to buy more COIN comes as the stock faces pressure. Coinbase shares slid over 12 percent during the recent market downturn, briefly pushing the company’s valuation below $30 billion for the first time since September 2024.
This isn’t Ark’s first dip buy; they’d purchased over $16 million worth of COIN in March following earlier price declines.
Related: Coinbase and MicroStrategy Stocks Soar as Bitcoin Breaks $88,000
What’s Cathie Wood’s Latest Take on Crypto?
In recent commentary, Cathie Wood reiterated her long-term bullish view on Bitcoin versus gold, stating Bitcoin’s uptrend against the precious metal remains intact despite weaker performance in 2025. She also expressed continued support for Ethereum and Solana.
However, Wood issued a stark warning about the memecoin market, estimating millions of such tokens could eventually lose all value. Ark’s COIN buying reflects conviction in core crypto infrastructure, contrasted with caution towards speculative meme assets.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
