Cathie Wood Doubles Down on Crypto, Adds $13M in Coinbase Shares During Market Dip

Cathie Wood’s ARK Invest took advantage of last week’s steep market correction to deepen its position in Coinbase (COIN), acquiring more than 83,000 shares across three of its ETFs.

The buy, valued at over $13 million based on Friday’s closing price, came as U.S. equities were rocked by a $5.4 trillion sell-off following President Donald Trump’s announcement of sweeping reciprocal tariffs. The tech-heavy Nasdaq entered bear market territory, while Coinbase shares dropped over 12% during the turmoil.

Despite the slide in COIN, the crypto market overall displayed resilience. Bitcoin held above key levels, and the CoinDesk 20 Index dipped a relatively modest 5.8%. ARK appears to be positioning for a continued divergence between crypto assets and traditional equities.

ARK Innovation ETF (ARKK) led the purchase with nearly 55,000 shares, followed by smaller allocations from ARK Next Generation Internet (ARKW) and ARK Fintech Innovation (ARKF).

The move highlights ARK’s ongoing conviction in the digital asset sector, signaling confidence that Coinbase — and crypto more broadly — may outperform as macroeconomic uncertainty grows and investors reevaluate traditional risk-on assets.