ARK Invest has acquired $26.6 million in Coinbase (COIN) shares while simultaneously unloading $12 million in its Bitcoin ETF. The moves come in response to recent market fluctuations following new trade tariffs announced by U.S. President Donald Trump on April 2.
Trading data indicates that ARK’s investment in Coinbase included purchases of $13.2 million on April 7 and $13.3 million on April 4. This marks a significant investment as the firm navigates a turbulent market landscape.
Conversely, ARK sold $12 million of its ARK 21Shares Bitcoin ETF (ARKB) on April 7. This sale is among the largest daily transactions for ARKB, which launched as a spot Bitcoin ETF in January 2024. The recent sale follows a series of other transactions, including an $8 million sale on March 3 and smaller sales totaling $3.5 million in January and February.
Despite the recent sell-off, ARK’s Next Generation Internet ETF (ARKW) continues to provide substantial indirect exposure to Bitcoin, holding $142 million in ARKB as of April 8. This represents approximately 11% of the fund’s overall weight.
The broader market for Bitcoin exchange-traded products (ETPs) has experienced significant outflows, with $207 million withdrawn last week and an additional $109 million on April 7 alone. In total, Bitcoin ETFs have lost $273 million over the past three trading days, according to SoSoValue data.
Despite these challenges, ARK Invest remains one of the few spot Bitcoin ETF issuers to record net positive inflows this year, with $146 million in inflows recorded as of April 4. Other notable firms with positive inflows include BlackRock’s iShares and ProShares, with $3.2 billion and $398 million, respectively.
