Ark Invest buys $2.44 million of Coinbase as shares fall 9.69%

Ark Invest buys Coinbase and trims Bullish and Bitmine

Ark Invest bought more Coinbase shares on Thursday while selling shares in Bullish and Bitmine during a sharp sell-off in U.S. technology stocks.

The trades were reported in the firm’s latest trading disclosure. The buys and sales were made through its ETFs, which are funds traded on a stock exchange.

Key trades from the disclosure

• Ark bought 17,806 Coinbase shares, worth $2.44 million, through its Ark Innovation ETF.
• Ark sold 109,522 Bullish shares, worth $2.27 million.
• Ark sold 119,841 Bitmine shares, worth $2.28 million.

Coinbase, Bullish and Bitmine all fell sharply

Coinbase shares fell 9.69% to close at $136.82 on Thursday. Bullish shares fell 10.46%. Bitmine shares fell 12.56%.

The wider U.S. market also fell. The tech-heavy Nasdaq Composite closed down 5.52%. CNN reported that was its worst day since April 2025. The S&P 500 lost 4.36%. The Dow Jones Industrial Average dropped 3.44%.

AI-related stocks were among the hardest hit. The report said fears of a possible slowdown in AI development followed the Democrats’ midterm election victory. Nvidia fell 9.26%. AMD fell 17.26% but remained up 81% year to date. SpaceX dropped 9%.

Ark disclosed other buys during the sell-off. It bought 252,592 Nvidia shares, worth $45.9 million. It bought 48,984 AMD shares, worth $19.8 million. It added 393,774 SpaceX shares, worth $48.7 million.

Sell-off reached Asian markets and crypto prices

The sell-off extended into Asian markets on Friday morning. South Korea’s Kospi was down 3.6% around noon after plunging nearly 9% earlier in the day, which triggered a brief trading halt. Japan’s Nikkei 225 dropped 5.3% during the morning session.

Bitcoin traded down 5.8% over the past 24 hours at $75,908 as of 11:20 p.m. ET on Thursday, after falling to around $75,350 earlier in the day. Ethereum dropped 8.2% to $2,234, according to The Block’s crypto price page.

Sources

• The Block