Cathie Wood's Ark Invest Invests $13.4 Million to Increase holdings in Coinbase Stock

BlockBeats News, April 5th, according to TheBlock, Cathie Wood's Ark Invest added a total of 83,157 shares of Coinbase stock across three ETFs on Friday, amounting to approximately $13.4 million. This increased position comes as Coinbase's stock price has fallen by about 5% over the past week, with the market capitalization dropping below $30 billion for the first time since September 2024. This is another buy-the-dip move by Ark Invest following a similar strategy in March when they added over $16 million in a single month.

Coinbase has endured its worst quarterly performance since the 2022 FTX collapse, with its stock price dropping by 33% in the first quarter of 2025 despite strong revenue expectations.