9-4-2025 – Ark Invest, the brainchild of renowned fund manager Cathie Wood, has snapped up another tranche of Coinbase (COIN) shares, injecting $4.8 million into the cryptocurrency exchange’s stock across three of its exchange-traded funds (ETFs). The purchase, executed on Tuesday, came mere hours before the full weight of President Donald Trump’s retaliatory tariffs—featuring a colossal 104% levy on Chinese goods—landed at midnight on Wednesday, sending shockwaves through global markets.
The buying spree saw Ark’s ARK Next Generation Internet ETF (ARKW) scoop up 15,313 Coinbase shares, a haul valued at approximately $2.3 million, while the ARK Fintech Innovation ETF (ARKF) added 4,895 shares to its portfolio, worth $741,400. Meanwhile, the flagship ARK Innovation ETF (ARKK) bolstered its holdings with 11,522 shares, clocking in at $1.7 million based on Tuesday’s closing price. This latest acquisition follows hot on the heels of a $13.3 million Coinbase splurge just a day prior, targeting the ARKW and ARKF funds.
Despite the crypto market’s bruising retreat—Bitcoin itself shed 5.68% in a single day, slumping to $75,362 after a fleeting surge past $80,000—these investments have cemented Coinbase’s prominence within Ark’s portfolios. In ARKK, the stock now commands a 7.31% weighting, ranking it third among the fund’s $328.35 million in holdings. Over in ARKW, it holds a 6.62% slice as the third-largest position, while in ARKF, it claims second place with a hefty 7.86% share. Yet, Coinbase’s own fortunes wavered, with its shares sliding 3.69% to close at $151.47, only to dip an additional 3.18% in after-hours trading.
The broader financial landscape painted a similarly grim picture on Tuesday, as Trump’s tariff regime—reported by CBS News to include that eye-watering 104% hit on China—cast a long shadow. Wall Street felt the chill, with the Dow Jones Industrial Average slipping 0.84%, the S&P 500 tumbling 1.57%, and the tech-heavy Nasdaq Composite shedding 2.15%. Bitcoin’s rollercoaster ride mirrored the unease, having briefly cratered to $74,300 earlier in the week before its short-lived rally, according to The Block’s price tracker.