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Highlights
- Cathie Wood's ARK Invest ETFs ARKW added 64,806 shares, while ARKF acquired 19,708 shares.
- Analysts remain divided on Coinbase stock's future, with some predicting further drops to $100.
- Brian Armstrong, CEO of Coinbase, recently sold 14,000 Class A shares for approximately $2.5 million.
As the Coinbase share price tanked under $150 in the recent Wall Street rout, Cathie Wood’s Ark Invest took the opportunity to buy the dips. The asset manager purchased a total of 84,514 COIN shares on Monday, worth $13.3 million, across two of its exchange-traded funds. Since the beginning of 2025, the COIN stock price is already down 38.8%, slipping from $250 to now under $160 levels. However, the share price surged 3% on Tuesday’s pre-market trading.
Cathie Wood’s Ark Invest On Coinbase Buying Spree
In its latest trade filing, ARK Invest revealed significant purchases of Coinbase (COIN) shares. The ARK Next Generation Internet ETF (ARKW) acquired 64,806 Coinbase shares, valued at approximately $10.2 million. Similarly, the ARK Fintech Innovation ETF (ARKF) added 19,708 Coinbase shares, worth around $3.1 million.
Following Monday’s acquisition, the Coinbase stock weighed 5.92% of ARKW’s portfolio. This makes it the fund’s fourth-largest holding. However, in ARKF, Coinbase shares represented an even larger allocation, with a 7.65% weight, which makes it the second-largest holding in the fund.
Over the last week, the Coinbase share price dropped 10% amid massive correction led by the Trump trade war. However, following yesterday’s development, the stock price bounced 2% to $159.40 levels.
Cathie Wood resumed COIN stock purchases last month after heavy correction since the beginning of the year. Her firm Ark Invest has periodically dabbled into new age companies like Coinbase, Robinhood, Tesla, and others, which has now become popular as Wood’s style of investing. Her bets into volatile stocks and future-driven companies have generated strong returns for Ark Invests’ customers.
Where’s COIN Price Heading Next?
Amid the heavy selloff across technology companies trading on Wall Street, the investor sentiment has been significantly down. As of press time, the COIN price is trading closer to $160, however, analysts have mixed opinions regarding its next movement. Popular crypto analyst, Ali Martinez, noted that COIN price has broken down out of the channel pattern, which opens the gates for a further drop to $100.
Coinbase $COIN is heading to $100 after breaking out of a channel! pic.twitter.com/jpgcfBGOk3
— Ali (@ali_charts) April 6, 2025
However, other analysts believe that if purchases by Cathie Wood and other institutions help to defend the $145 support for COIN, it can resume the upside to $200 and above.
Brian Armstrong, Chairman and CEO of Coinbase Global Inc. (NASDAQ: COIN), recently sold 14,000 shares of the company’s Class A Common Stock, valued at approximately $2.5 million. The sales, conducted on April 3 at prices between $168.22 and $169.65 per share, were executed through the Brian Armstrong Living Trust. These transactions were part of a Rule 10b5-1 trading plan that Armstrong adopted in August 2024.
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