Cathie Wood’s Ark Invest Swipes $13M in Coinbase Shares Amid Global Market Rout

Key Takeaways

• ARK Invest purchased over 83,000 shares of Coinbase (COIN), reinforcing its bullish stance.
• After falling nearly 50% in Q1 and another 9% last week, Coinbase attracted value investors like ARK.
• In addition to Coinbase, ARK Invest made several other trades last week.

While most investors retreated during last week’s brutal market sell-off, Cathie Wood did what she always does in a weak market—she doubled down.

As volatility rocked the crypto and tech sectors, Wood’s ARK Investment Management ramped up exposure to key innovation plays, signaling a bold bet on long-term disruption despite short-term pain.

Cathie Wood Bets on Coinbase

Based on Friday’s close, ARK Investment Management bought more than 83,000 Coinbase (COIN) shares worth over $13 million.

According to ARK’s trading disclosure , the flagship ARK Innovation ETF (ARKK) acquired nearly 55,000 shares, with the remainder split between ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF).

Cathie Wood’s firm now holds over 3 million shares of Coinbase, valued at roughly $448.7 million. The position accounts for 5.9% of ARK’s total portfolio—underscoring its continued conviction in the crypto exchange’s long-term potential.

Coinbase’s Stock Slide Opens a Window

Coinbase stock has dropped nearly 50% in the first quarter alone, mirroring broader weakness across U.S. equities and crypto markets.

The sell-off deepened last week, falling another 9% amid fears of a trade war sparked by President Trump’s new tariff announcement.

Since its 2021 public debut, Coinbase has grown rapidly, reporting $6.3 billion in 2024 revenue—including $4 billion in transaction fees. Still, its stock remains tightly correlated with crypto prices and trading volumes, complicating long-term forecasts.

Despite heightened volatility in the crypto space, Coinbase has underperformed this year. Lower rewards and custodial fees, along with a missed opportunity for inclusion in the S&P 500, have all weighed on investor sentiment.

Other ARK Invest Moves

ARK Invest was active across multiple ETFs last week, tweaking its exposure to several tech and biotech names.

On Wednesday, it acquired 2,689 shares of GitLab—allocating 614 shares to ARKW. Based on Tuesday’s closing price of $48.33, the purchase was valued at around $129,960.

Meanwhile, ARKK trimmed its position in Prime Medicine (PRME), selling 19,903 shares for about $35,626 at $1.79 per share.

ARK Genomic Revolution ETF (ARKG) sold 73,541 shares of Repare Therapeutics (RPTX), worth approximately $78,689.

Wood also increased her stake in Robinhood (HOOD) and GitLab. She purchased 36,250 shares of Robinhood for ARKK, worth nearly $1.4 million based on Thursday’s close of $38.26.

ARK added another 27,431 GitLab shares across ARKK and ARKW. The $1.2 million purchase was made at an average price of $42.53 per share.

On the sell side, ARK offloaded 119,913 more shares of Repare Therapeutics, totaling about $117,509. It also exited 343,318 shares of UiPath (PATH), a trade valued at $3.5 million.