As U.S. markets reeled from a historic $5.4 trillion sell-off last week, Cathie Wood’s ARK Invest went on the offensive — snapping up more than 83,000 shares of Coinbase (COIN) across several of its exchange-traded funds.
Based on Friday’s closing price, the purchase totaled over $13 million and signals a renewed vote of confidence in the crypto exchange as broader equities faced intense pressure.
According to ARK’s daily trade update for April 4, the bulk of the buy came from its flagship ARK Innovation ETF (ARKK), which added nearly 55,000 COIN shares. Additional allocations came from the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF).
The move comes at a pivotal moment. Coinbase stock has slid more than 12% amid the broader downturn triggered by President Donald Trump’s sweeping reciprocal tariffs targeting nearly every major U.S. trading partner — a policy shift that spooked markets worldwide.
While traditional equities cratered, crypto markets showed relative strength. Bitcoin held steady, and the CoinDesk 20 (CD20) index saw a milder decline of 5.8%, underlining crypto’s growing appeal as a macro hedge — a theme Wood has long championed.
ARK’s latest buy reinforces the firm’s long-term conviction in the digital asset space, even as short-term volatility continues to rock global markets.
