Original report published by The Block on November 6, 2026, at 11:55:27 a.m. UTC+8. The trades described took place on Thursday, November 5.
Cathie Wood’s Ark Invest bought 17,806 Coinbase shares worth $2.44 million through its Ark Innovation ETF on Thursday, while reducing its holdings in Bullish and Bitmine, according to the firm’s trading disclosure cited by The Block.
The purchases came as Coinbase shares fell 9.69% to close at $136.82 amid a broad decline in U.S. stocks. Through its ETFs, Ark also sold:
- Bullish: 109,522 shares worth $2.27 million. The stock fell 10.46% that day.
- Bitmine: 119,841 shares worth $2.28 million. The stock declined 12.56%.
Technology stocks and crypto declined
The Nasdaq Composite closed down 5.52%, its worst session since April 2025, according to CNN as cited by The Block. The S&P 500 fell 4.36%, while the Dow Jones Industrial Average lost 3.44%. The report described the sell-off as erasing post-election gains.
AI-related equities were among the hardest hit. The Block linked the decline to concerns that Democrats’ midterm election victory could slow AI development. Nvidia fell 9.26%, wiping out its gains for the year, while AMD dropped 17.26% but remained up 81% year-to-date. SpaceX shares declined 9%.
Ark also added to those positions, according to its trading disclosure, buying 252,592 Nvidia shares worth $45.9 million, 48,984 AMD shares worth $19.8 million and 393,774 SpaceX shares worth $48.7 million.
Sell-off extended into Friday’s Asian session
South Korea’s Kospi was down 3.6% around noon on Friday after falling nearly 9% earlier in the session, triggering a brief trading halt. Japan’s Nikkei 225 dropped 5.3% during morning trading.
Cryptocurrency prices also fell. At 11:20 p.m. ET on Thursday, bitcoin traded at $75,908, down 5.8% over 24 hours, after reaching a local low of around $75,350 earlier in the day. Ethereum was down 8.2% at $2,234, according to The Block’s crypto price page.