Ark Invest increased its stake in Coinbase stock by $13.4 million

ChainCatcher news, according to TheBlock, Cathie Wood's Ark Invest increased its holdings in three ETFs by a total of 83,157 shares of Coinbase stock on Friday, amounting to approximately $13.4 million. This purchase comes as Coinbase's stock price has dropped about 5% over the past week, with its market capitalization falling below $30 billion for the first time since September 2024. This is Ark Invest's second buy-in after March, when it previously increased its holdings by over $16 million in a single month.

Coinbase has experienced its worst quarterly performance since the FTX collapse in 2022. Despite strong revenue expectations, its stock price still fell by 33% in the first quarter of 2025.