As markets unraveled last week in response to President Trump’s sweeping tariff announcement, Cathie Wood’s ARK Invest saw an opportunity — and pounced.

The firm purchased more than 83,000 shares of Coinbase (COIN) across three of its ETFs, seizing the chance to add exposure to the crypto exchange at a discount. The total value of the acquisition surpassed $13 million based on Friday’s closing price.

According to ARK’s April 4 trading disclosure, the majority of the shares were allocated to its flagship ARK Innovation ETF (ARKK), while the ARK Next Generation Internet (ARKW) and Fintech Innovation (ARKF) ETFs made up the rest.

The timing of the buy is significant. Coinbase stock has dropped over 12% during the recent $5.4 trillion U.S. equities market sell-off, even as crypto assets held up relatively well. Bitcoin remained firm above $80,000, and the CoinDesk 20 Index declined just 5.8% in comparison.

ARK’s move suggests continued high-conviction in crypto infrastructure plays — even amid broader macro stress. While traditional markets flailed, ARK is leaning into what it sees as long-term winners in a shifting global financial landscape.