Cathie Wood's Ark Invest buys more Coinbase shares after the "System Update" event of this cryptocurrency exchange

Ark Invest has purchased an additional 17,386 Coinbase (COIN) shares, worth approximately $4.2 million, allocated across its three ETF funds, according to the latest disclosures. Among them, the Ark Innovation ETF (ARKK) bought 12,081 shares, the Ark Next Generation Internet ETF (ARKW) bought 3,495 shares, and the Ark Fintech Innovation ETF (ARKF) bought 1,810 shares. This transaction occurred just a few days after Ark spent $16.3 million to buy COIN, indicating the company’s continuous portfolio rebalancing strategy amid market volatility.

Ark maintains a principle of not allowing any single investment to exceed 10% of each fund’s value to ensure diversification. Currently, COIN is the fourth-largest holding in ARKK, the seventh in ARKW, and the second in ARKF. Ark’s buying activity comes after Coinbase announced plans to expand into stocks, derivatives, DEX, stablecoins, and payments, aiming for an “all-in-one exchange” model. Analysts are optimistic about this outlook and continue to recommend buying COIN shares, despite recent significant stock price fluctuations.