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, totaling approximately $13.4 million. This additional position comes as Coinbase's stock price has fallen by about 5% over the past week, with the market value dropping below $30 billion for the first time since September 2024. This is Ark Invest's second time buying the dip following March, having previously added over $16 million in a single month.
Coinbase has experienced its worst quarter since the 2022 FTX collapse, with its stock price dropping by 33% in the first quarter of 2025 despite strong revenue expectations.
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