<div id="readability-page-1"><div>Ark Invest bought 17,386 Coinbase shares, worth approximately $4.2 million, across three of its exchange-traded funds on Thursday, according to its latest disclosures.Of the total acquisition, Ark bought 12,081 Coinbase shares ($2.9 million) for its Ark Innovation ETF (ARKK), 3,495 shares ($836,000) for its Ark Next Generation Internet ETF (ARKW), and 1,810 shares ($433,000) for its Ark Fintech Innovation ETF (ARKF).Ark's latest rebalancing comes just days after it bought $16.3 million worth of Coinbase shares across the same ETFs on Monday as the Cathie Wood-led investment firm continues to rebalance its fund weightings amid market volatility.Ark's investment strategy aims to ensure that no individual holding takes up more than 10% of a fund's portfolio. This is to maintain diversification within its funds — meaning Ark is likely to continue rebalancing its weightings if the value of Coinbase shares rises or falls significantly relative to Ark's other holdings in its funds.COIN is currently the fourth-largest holding within its ARKK fund, with a weighting of 5.3%, worth around $388.5 million, as of Dec. 19, behind Tesla, Roku, and Crispr Therapeutics. COIN is the seventh-largest holding in its ARKW fund, with a weighting of 4.7% ($102 million), and second-largest in ARKF, with a weighting of 5.9% ($66.2 million).Coinbase's 'everything exchange' rolloutArk's latest Coinbase buys follow the crypto exchange's &#34;System Update&#34; event after Wednesday's market close. Coinbase is expanding beyond its existing crypto services, rolling out stocks, prediction markets, Solana DEX trading, derivatives, custom stablecoins, and payments in a bid to become an &#34;everything exchange.&#34;Analysts saw Coinbase's sweeping product expansion as sharpening the bull case for the crypto exchange's shares, arguing that the breadth of the new offerings could upscale the company's addressable market and drive engagement in ways not yet fully reflected in current expectations.Benchmark reiterated its buy rating on COIN and maintained a $421 price target, saying the product showcase marked a shift from marketing language to a clearer execution roadmap. JPMorgan, which rates COIN as overweight, said the announcements meaningfully expand how users can transact and engage in the app. Meanwhile, Deutsche Bank initiated coverage for Coinbase with a buy rating and a $340 price target, implying roughly 40% upside from current levels.Coinbase shares closed down 2% on Thursday at $239.20 after reversing a brief post-event pop in early trading. COIN is currently up 3% in pre-market trading on Friday. COIN has fallen 8.6% over the past month and is down 21.2% year-to-date after dropping 43% from its summer peak, according to The Block's COIN price page. Coinbase is currently valued at $45.4 billion, per The Block’s data dashboard.Ark finds its SolmateArk also bought another 575,644 shares of Solmate Infrastructure (Brera Holdings), worth $1.4 million, for its ARKK, ARKW, and ARKF funds on Thursday, as the Nasdaq-listed gained slightly to close at $2.39.The Solana-based DAT secured $300 million through a private placement earlier this year, backed by Ark Invest and the Solana Foundation. Solmate secured $50 million worth of SOL at a 15% discount directly from the Solana Foundation in October. Former Kraken Chief Legal Officer Marco Santori serves as the company's CEO.However, like many of its DAT counterparts, the stock has struggled in recent months as the hype around the new sector continues to fade, with Solmate shares falling since their September peak.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</div></div>

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Ark Invest purchased 17,386 Coinbase shares worth $4.2 million across three ETFs following Coinbase's 'System Update' event. The investment firm aims to maintain diversification by ensuring no holding exceeds 10% of a fund's portfolio. Coinbase's product expansion includes stocks, prediction markets, and more, which analysts believe could drive market engagement. Ark also bought 575,644 shares of Solmate Infrastructure for $1.4 million. Coinbase shares closed down 2% on Thursday but are up 3% in pre-market trading on Friday.

- Ark Invest purchased 17,386 Coinbase shares worth approximately $4.2 million for three of its exchange-traded funds as part of its rebalancing strategy amid market volatility.  
- This follows a prior purchase of $16.3 million in Coinbase shares, with COIN being significant in Ark's portfolios, holding notable weightings in ARKK, ARKW, and ARKF.  
- Additionally, Ark acquired shares of Solmate Infrastructure, which has faced stock struggles despite recent fundraising efforts.

Cathie Wood’s Ark Invest scoops up more Coinbase shares following crypto exchange’s ‘System Update’ event