Ark Invest Buys $18 Million in Coinbase Shares While Selling Robinhood Stock

Cathie Wood’s Ark Invest purchased around $18.4 million worth of Coinbase Global shares on Wednesday across its major exchange-traded funds, even as the crypto company’s stock continued to fall.

According to Ark’s latest trading disclosure, the investment firm bought 111,799 Coinbase shares through its ARKK, ARKW and ARKF funds. Coinbase stock closed down 2.57% at $164.92, pushing its monthly decline close to 13%.

Ark also added 236,759 shares of Block Inc., valued at roughly $17.2 million. At the same time, the firm sold 275,572 Robinhood shares worth nearly $29 million after the trading platform posted a strong rally.

Coinbase and Robinhood Take Different Market Paths

Robinhood shares jumped 8.78% to close at $105.20 following growing investor interest in prediction markets and trading activity linked to the World Cup. Despite the sale, Robinhood still remains the fourth-largest holding inside Ark’s flagship ARKK fund.

Coinbase recently introduced tokenized stocks, allowing users to trade blockchain-based versions of US equities. The company also announced a new AI-powered advisor and a system upgrade designed to combine liquidity across its global crypto and derivatives platforms.

Meanwhile, Robinhood confirmed plans to reduce 10% of its workforce as part of a broader move toward a leaner operating structure.