ARK Invest Buys $6.9M of Coinbase Stock After $17.4M Sell-Off
ARK Invest repurchased 41,453 Coinbase shares worth $6.9M on Feb. 18—reversing a $17.4M sell-off earlier in February—allocating $4.9M to ARKK, $1.2M to ARKW and $704K to ARKF. Coinbase shares have climbed 8.4% over five days to around $166, though they remain down 28% year-to-date after a $667M Q4 loss.
1. ARK Repurchase Details
On Feb. 18, ARK Invest acquired 41,453 Coinbase shares valued at $6.9 million, directing $4.9 million into the ARK Innovation ETF (ARKK), $1.2 million into the Next Generation Internet ETF (ARKW) and $704,000 into the Fintech Innovation ETF (ARKF).
2. Prior Sell-Off and Tactical Pivot
Earlier in February, the firm sold $17.4 million of Coinbase over two days, suggesting the recent purchase is a tactical buy-the-dip move aligned with portfolio rebalancing rather than a shift in long-term conviction.
3. Coinbase Stock Performance
Coinbase shares have risen 8.4% over the past five trading days to about $166, yet remain 28% below their year-start level. The stock is attempting to establish support after reporting a $667 million net loss in Q4.
4. Implications for ARK and Coinbase
The renewed allocation underscores ARK’s confidence in potential upside as Coinbase holds a 4% weighting in ARKK and 5.6% in ARKF. Technical momentum and analyst targets—including a $440 price objective—could drive further trading volume and price action.