ARK Invest Boosts Coinbase Position Again, Trims Robinhood Shares

Cathie Wood’s ARK Invest has shaken up its portfolio by snapping up $2.2 million worth of Coinbase shares, signaling a renewed focus on the major crypto exchange.

This marks ARK’s first purchase of Coinbase stock in over a month, pointing to fresh confidence in the company’s future performance.

The firm added close to 13,000 shares of Coinbase to its Fintech Innovation ETF. Despite a slight drop in Coinbase’s stock price that day, the ETF now holds approximately $67 million worth of shares, which represents over 7% of the total portfolio. Even though the stock has climbed 6.5% since ARK’s last buy, it still sits 20% below its August highs.

Industry experts see this move as a potential bet on a broader crypto rally, with Bitcoin’s historical performance in October often being a catalyst for market gains.

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In contrast to the Coinbase acquisition, ARK opted to shed over 135,000 shares of Robinhood, valued at around $3.5 million. This decision is thought to be tied to regulatory limitations on investment exposure to firms heavily reliant on securities sales. Interestingly, Robinhood’s stock surged nearly 10% following the sell-off.

With these recent trades, ARK continues to tweak its holdings in response to shifting market conditions in the crypto and fintech sectors.

Source

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.