Cathie Wood’s Ark Invest bought 17,806 Coinbase shares worth $2.44 million on Thursday, November 5, 2026, as the stock fell 9.69% to close at $136.82. At the same time, the firm reduced its holdings in Bullish and Bitmine during a broad retreat in U.S. technology stocks.
Historical report: The original article was published on November 6, 2026, at 11:55:27 a.m. UTC+8. Prices and market moves below refer to that reporting window.
Ark buys Coinbase but cuts other crypto holdings
According to Ark’s trading disclosure, the Coinbase purchase was made through the Ark Innovation ETF. Across its ETFs, the firm also sold:
- 109,522 Bullish shares, worth $2.27 million.
- 119,841 Bitmine shares, worth $2.28 million.
Both stocks fell more sharply than Coinbase that Thursday: Bullish lost 10.46%, while Bitmine declined 12.56%.
The disclosures show different allocation decisions across crypto-linked equities, rather than uniform buying across the sector. They do not establish why Ark made each trade or whether the declines marked a turning point.
A wider technology-stock rout
The crypto-equity losses coincided with a U.S. market sell-off that erased post-election gains. The Nasdaq Composite dropped 5.52%, its worst session since April 2025, according to CNN. The S&P 500 fell 4.36%, and the Dow Jones Industrial Average lost 3.44%.
The original report linked pressure on AI-related equities to fears that Democrats’ midterm election victory could slow AI development. That was the reported market concern, not an established policy outcome.
Nvidia fell 9.26%, wiping out its gains for the year. AMD declined 17.26%, although it remained up 81% year-to-date. SpaceX dropped 9%.
Ark also bought those three stocks during the sell-off, according to its disclosure:
| Stock | Shares purchased | Reported value |
|---|---|---|
| Nvidia | 252,592 | $45.9 million |
| AMD | 48,984 | $19.8 million |
| SpaceX | 393,774 | $48.7 million |
Selling spreads to Asia and crypto
The retreat continued into Asian trading on Friday. South Korea’s Kospi was down 3.6% around noon after falling nearly 9% earlier in the session, triggering a brief trading halt. Japan’s Nikkei 225 dropped 5.3% during morning trading.
Bitcoin traded at $75,908 as of 11:20 p.m. ET Thursday, down 5.8% over the preceding 24 hours, after reaching a local low near $75,350 earlier that day. Ethereum fell 8.2% to $2,234, according to The Block’s crypto price page.
The documented picture was a broad decline spanning technology shares, crypto-linked equities and cryptocurrencies. Ark’s purchases show that it added selected positions into that weakness; they do not, on their own, establish a market bottom or signal a new rally.
