Ark Invest Boosts Coinbase Holdings in ARKW ETF Amid Bitcoin Market Sell-Off

On February 26th, COINOTAG reported that Ark Invest strategically acquired 41,032 shares of Coinbase for its Next Generation Internet ETF (ARKW) at a total valuation of $8.7 million. This transaction coincided with a notable sell-off in the broader cryptocurrency market, which saw Ark also divest $8.6 million from its spot Bitcoin ETF. This marks the first significant purchase of Coinbase shares since Ark’s $2.2 million investment on October 8th of the previous year. As of February 25th, Coinbase, symbolized by COIN, ranks as the sixth largest holding in Ark’s ARKW fund, contributing a weight of 5.5% and a total value of approximately $94.4 million. This strategic maneuver reflects Ark’s continued commitment to positioning itself within the evolving cryptocurrency landscape.