PANews reported on March 14 that according to the latest transaction documents, Ark Invest, owned by Cathie Wood, increased its holdings of Coinbase by 29,353 shares through its ARK Innovation ETF (ARKK) on Thursday, worth about $5.2 million. On the same day, Coinbase's stock price fell 7.43% to close at $177.49. In addition, ARKK also purchased 143,855 shares of Robinhood stock, worth about $5.18 million.

Currently, Coinbase stock accounts for 7.14% of the ARKK fund, making it the third largest holding. Ark Invest previously stated that its goal is to ensure that a single stock holding does not exceed 10% of the fund's portfolio.