Coinbase shares worth US$13.4 million were purchased on Apr. 4 by Ark Invest, led by Cathie Wood, across three of its ETFs.

The ARK Innovation ETF  acquired 54,988 shares worth US$8.8 million, raising its total Coinbase holdings to US$342 million, or 7.5% of the portfolio.

The ARK Next Generation Internet ETF (ARKW) bought 15,982 shares for US$2.5 million, while the ARK Fintech Innovation ETF (ARKF) added 12,187 shares valued at US$2 million.

Coinbase now makes up 9.4% of ARKF, the fund’s second-largest holding after Shopify at 13%.

Ark typically caps any single company’s weight in a fund at 10%. This purchase follows a US$16 million acquisition in March after a previous dip.

Coinbase’s stock, once peaking at US$343 in December, has dropped below its October 2024 value, bringing its market cap under US$30 billion.

Recent Coinbase developments