Ark Invest adds Coinbase stake as U.S. tech sell-off hits crypto-linked shares

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Ark Invest adds Coinbase stake

Highlights

Ark Invest buys 17,806 Coinbase shares for $2.44 million and adds Nvidia, AMD, SpaceX stakes during Thursday's tech-led market decline.
Coinbase drops 9.69% to $136.82, Bullish falls 10.46%, and Bitmine declines 12.56% as U.S. tech stocks tumble and Ark rotates holdings.
Nasdaq Composite plunges 5.52%, S&P 500 falls 4.36%, Dow drops 3.44%, while Bitcoin trades down 5.8% to $75,908 and Ethereum drops 8.2% to $2,234.

Trading moves during Thursday's market decline

As reported by The Block, citing Ark Invest's latest trading disclosure, the investment firm buys 17,806 Coinbase shares worth $2.44 million through its Ark Innovation ETF on Thursday, while selling 109,522 Bullish shares worth $2.27 million and 119,841 Bitmine shares worth $2.28 million via its ETFs.

The portfolio changes take place as U.S. technology stocks tumble sharply, wiping out post-election gains. Coinbase falls 9.69% to close at $136.82, while Bullish drops 10.46% and Bitmine declines 12.56%.

Ark also adds to several chip and aerospace positions during the sell-off. The firm purchases 252,592 Nvidia shares worth $45.9 million, 48,984 AMD shares worth $19.8 million and 393,774 SpaceX shares worth $48.7 million, according to the disclosure.

Broader market pressure hits global equities and crypto

The wider rout pushes the tech-heavy Nasdaq Composite down 5.52%, its steepest one-day drop since April 2025. The S&P 500 loses 4.36% and the Dow Jones Industrial Average falls 3.44%.

AI-related stocks are among the hardest hit as Democrats' midterm election victory raises concerns about a potential slowdown in AI development. Nvidia falls 9.26%, erasing its gains for the year, while AMD plunges 17.26% but remains up 81% year-to-date. SpaceX drops 9%.

The sell-off extends into Asia on Friday morning, with South Korea's Kospi down 3.6% around noon after sliding nearly 9% earlier and triggering a brief trading halt. Japan's Nikkei 225 loses 5.3% in the morning session.

Cryptocurrencies also remain under pressure. Bitcoin trades down 5.8% over the previous 24 hours at $75,908 as of 11:20 p.m. ET Thursday, after earlier falling to about $75,350, while Ethereum declines 8.2% to $2,234.

Our earlier article on the Nasdaq-100’s selling pressure highlighted a sharp intraday pullback, with the index trading below key short- and medium-term moving averages and downside risk elevated. It also covered the launch of JQQQ, a blockchain-native fund designed to provide digital access to Nasdaq-100 exposure, underscoring how traditional equity benchmarks are increasingly intersecting with crypto and blockchain infrastructure.

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