TLDR
- Ark Invest executed a significant transaction by buying 997 Bitcoins from Coinbase on March 13, 2025, marking a notable day in their investment history.
- The transaction was strategically divided into two segments: initially acquiring 498 BTC, and then securing 499 BTC four hours afterward.
- Ark Invest also boosted its ARK Innovation ETF by purchasing further shares in Coinbase, valued at $5.2 million.
- Despite a challenging year, Coinbase shares have decreased by 31%, closing at $177.49 after a recent decline of 7.43%.
- Cathie Wood has made bold predictions about Bitcoin, hinting that it might soar to $1 million per coin by the year 2030.
Ark Invest is showing serious commitment to the crypto sector, having bought 997 Bitcoins worth $80 million along with adding $5.2 million to its Coinbase shares, underscoring its faith in digital currencies even amidst market uncertainty.
Acquiring their Bitcoin stake through Coinbase on March 13, 2025, Ark Invest executed the purchase in two separate orders: obtaining 498 BTC first, then 499 BTC four hours later, according to Arkham Intelligence data.
ARK INVEST RECEIVED $80M OF $BTC FROM COINBASE TODAY
ARK INVEST IS BUYING BITCOIN pic.twitter.com/FmpyoNa15A
— Arkham (@arkham) March 13, 2025
As the world of institutional crypto investing hots up, Ark Invest's savvy Bitcoin acquisition underscores a growing trend of large-scale investors maintaining their foothold in Bitcoin ETFs amid the roller-coaster market.
Beyond securing Bitcoin, Ark Invest strengthens its ARK Innovation ETF (ARKK) with a strategic purchase of 29,353 Coinbase shares, approximately valued at $5.2 million based on the latest market close.
Further diversifying its funds, Ark Invest has procured 143,855 Robinhood shares worth $5.18 million, enriching its portfolio with both Coinbase and Robinhood stocks, despite their recent dip in value.
Thursday saw Coinbase's stock nosedive by 7.43%, closing at $177.49. Year-to-date analysis by Google Finance shows a 31% depreciation.
Robinhood's shares took a hit too, with a 7.45% drop closing at $36.02, translating to an 8.6% slump since 2025 kicked off.
Ark Invest's recent swoop for Coinbase shares adds to an ongoing series of acquisitions. Earlier that week, they snapped up 52,753 shares worth around $9.4 million for their ARKK ETF.
With a sharp eye on its portfolio, Ark also capitalized on a $2.1 million purchase of 11,605 Coinbase shares, bolstering its Ark Fintech Innovation ETF. A strategy that's fine-tuning its investment lineup.
Cathie Wood, ahead of the curve, highlighted that Ark's policy is to cap individual stock exposure at 10% within a fund's portfolio. As of the latest report, Coinbase shares account for 7.14% of the ARKK fund.
Making its presence felt, Coinbase stands as the third-largest holding in the ETF, demonstrating Ark's unwavering trust in the crypto market despite the market downturn.
Aligning with Wood's optimistic stance on Bitcoin, the latest purchase highlights her belief in Bitcoin's potential, anticipating a remarkable $1 million per coin by 2030.
Bitcoin Pressure
Even with such a positive outlook, Bitcoin has recently encountered roadblocks, struggling to surpass the $83,700 resistance mark.
An analyst's insight suggests a possible slip to a support level of $75,000 for Bitcoin, should the selling pressure persist. Such price shifts have been influenced by trading skirmishes and various market considerations.
Bitcoin's price momentarily hovered around the $79,000 range before rebounding to $81,000, yet it still finds resistance at higher price points.
With a two-pronged strategy, Ark Invest is enhancing its crypto portfolio with direct Bitcoin acquisitions while also upping its investment in cryptocurrency-centric firms. This follows a $9 million divestment from its Bitcoin ETF holdings.
This move mirrors a wider pattern of about $1.1 billion funneling out from spot Bitcoin ETFs, possibly due to shaky US stock performances, inflation concerns, and trade policy uncertainties.
Despite these hurdles, Ark Invest is steadfast in pursuing its long-term digital asset game plan, skillfully balancing between holding cryptocurrency directly and investing in companies operating within the crypto sphere.
