Ark Invest bought 28,315 Coinbase shares, worth approximately $7.5 million, for its Ark Innovation exchange-traded fund (ARKK) on Tuesday as markets recovered from Monday’s price slump.
The latest buys come just a week after it bought $16.5 million worth of Coinbase shares across three of its ETFs on Nov. 26 as the Cathie Wood-led investment firm continues to rebalance its fund weightings amid market volatility.
Ark’s investment strategy aims to let no individual holding take up more than 10% of a fund’s portfolio. This is to maintain diversification within its funds — meaning Ark is likely to continue rebalancing its weightings if the value of Coinbase shares rises or falls significantly relative to Ark’s other holdings in its funds.
According to the firm’s disclosures, COIN is currently the second-largest holding within its ARKK fund, with a weighting of 5.6%, worth around $409.6 million, as of Dec. 3, behind a $900.2 million position in Tesla stock.
Recovering from Monday’s slump
Coinbase shares closed up 1.3% on Tuesday at $263.26 after dropping 7.4% at one point on Monday amid the broader crypto and stock market slump, and are currently up 4.2% in pre-market trading on Wednesday.
COIN has fallen 21.7% over the past month and is now just 2.6% up year-to-date after slipping 37% from its summer peak, according to The Block’s Coinbase page. Coinbase is presently valued at $49 billion, according to The Block’s data dashboard.
Other crypto-related stocks also recovered on Tuesday, with Strategy gaining 5.8%, Metaplanet up 4.6%, and BitMine rising 10.3%. However, some AI-diversifying bitcoin miners had a bad day, with IREN down 15.2%, Cipher Mining falling 10.4%, and TeraWulf dropping 7.1%.
Meanwhile, bitcoin fully retraced its 7% Monday slump to rise back above $91,000 on Tuesday, ether gained 7% to reclaim the $3,000 level, and the GMCI 30, representing a selection of the top 30 cryptocurrencies, rose 6.2%.
Ark also bought 42,434 Bullish shares worth $1.8 million for its ARKK fund on Tuesday as the stock gained 5%. Additionally, the investment firm purchased another 1,951 Robinhood shares ($245,000) for its Ark Next Generation Internet ETF (ARKW).
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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