Ark Invest invests $13.3 million in CoinBase shares during market turmoil. Global markets face turbulence due to Trump's tariff announcement.
Ark Invest, managed by Cathie Wood, purchased approximately 84,514 CoinBase shares worth around $13.3 million in its exchange-traded funds (ETFs) on Tuesday when markets faced a severe downturn. This move took place as global markets endured a turbulent day. Asian stock indices experienced a sharp decline, and US markets also saw a decrease. Concurrently, digital currency markets also plummeted with Bitcoin dropping to around $74,300 but later rebounding to about $80,000. This strategic purchase by Ark Invest followed the announcement of a wide-ranging tariff package by President Trump, causing concerns in the markets and capital flight from high-risk assets.
