Cathie Wood’s asset management firm, Ark Invest, acquired further shares of Coinbase on Thursday while simultaneously reducing its stakes in Bullish and Bitmine during a significant downturn across American technology equities.
Based on the most recent trade notification, Ark picked up 17,806 shares of Coinbase valued at $2.44 million utilizing its Ark Innovation ETF on Thursday. Additionally, the organization disposed of 109,522 shares of Bullish amounting to $2.27 million, alongside 119,841 shares of Bitmine worth $2.28 million through its exchange-traded funds.
Ark’s actions transpired as major U.S. tech equities experienced a sharp decline during a market rout that eliminated gains achieved following the election. The technology-focused Nasdaq Composite index finished the session 5.52% lower, marking its most difficult single-day performance since April 2025, as reported by CNN. Furthermore, the S&P 500 declined by 4.36% while the Dow Jones Industrial Average retreated 3.44%.
Coinbase dropped 9.69% to settle at $136.82 at Thursday’s close. Bullish equities decreased by 10.46%, whereas Bitmine experienced a 12.56% contraction.
AI stocks plunge
Artificial intelligence equities faced some of the heaviest losses, given that the midterm electoral victory by Democrats sparked concerns regarding a potential deceleration in artificial intelligence innovation. Nvidia stock decreased by 9.26%, eradicating its year-to-date performance gains. AMD plummeted by 17.26%, though it maintained an 81% increase for the year. SpaceX retreated by 9%.
In the midst of this liquidation event, Ark acquired 252,592 shares of Nvidia valued at $45.9 million alongside 48,984 shares of AMD worth $19.8 million. The enterprise also incorporated 393,774 shares of SpaceX totaling $48.7 million, according to the trading report.
The downward momentum spilled over into Asian financial exchanges on Friday morning. South Korea’s Kospi index declined 3.6% around midday following an initial drop of nearly 9% earlier in the session, which prompted a temporary suspension of trading. Japan’s Nikkei 225 contracted by 5.3% over the morning hours.
Concurrently, bitcoin Bitcoin (BTC) registered a 5.8% decline over the trailing 24 hours, changing hands at $75,908 by 11:20 p.m. ET on Thursday after touching a localized trough near $75,350 earlier in the day. Ethereum Ethereum (ETH) pulled back by 8.2% to reach $2,234, according to data from The Block’s digital asset price tracker.
Originally published at https://www.theblock.co/news/markets/2026-11-05-ark-invest-buys-coinbase-trims-bullish-bitmine-435769.
