ARK Invest adds $18M of Coinbase shares, boosting COIN stock

Ark Invest purchased roughly 111,800 Coinbase shares worth about $18.4 million through three of its exchange‑traded funds, making Coinbase its eighth‑largest holding in the ARK Innovation ETF. The purchase followed a previous session where Coinbase fell 2.57 % to $164.92. In pre‑market trading the stock rose 2.30 % to $168.70 after the filing was disclosed.

Analysts remain divided on the exchange’s outlook. Barclays kept an underweight rating with a $107 target, while Benchmark and Bernstein maintained buy ratings with targets of $270 and $330 respectively. Ark also adjusted other crypto‑linked positions, selling about 275,600 Robinhood shares for $28.5 million and adding roughly 236,800 Block shares and a large stake in SpaceX.

The moves highlight ongoing investor interest in regulated crypto‑related equities and the influence of large institutional holdings on market sentiment.