Cathie Wood's ARK Buys Over $13M of Coinbase Shares

The purchase appears to be ARK's biggest of the year, eclipsing the $9.2 million order earlier this month

AccessTimeIconFeb 23, 2023 at 10:10 a.m. UTC
Updated May 9, 2023 at 4:08 a.m. UTC

Investment manager ARK has added a total of around $13.2 million worth of Coinbase (COIN) shares, according to an investor email on Thursday.

Cathie Wood's ARK Innovation ETF (ARKK) added 181,972 shares ($11.4 million) of Coinbase, which appears to be its single biggest COIN order of the year eclipsing the $9.2 million order earlier this month.

ARK also added 31,547 COIN shares ($1.93 million) to its Next Generation Internet ETF (ARKW).

The total of 213,519 shares is comfortably higher than than the 133,321 shares it purchased across the whole of last week.

Coinbase's Q4 earnings, published on Tuesday, were above expectations, but COIN shares dipped slightly on Wednesday, closing the day down 1.43% at $61.18.

Having lost around 86% its value in 2022, Coinbase stock began 2023 in bullish mode, more than doubling in value from around $34 to $81 in January, before pulling back somewhat this month.

COIN shares are up 2.45% at $62.68 in pre-market trading at the time of writing.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.