The purchase of Coinbase shares across the ARKK, ARKW, and ARKF funds arrives as the exchange faces a 12.95% valuation drop over the past month. Coinbase shares closed Wednesday down 2.57% at $164.92. This investment follows the company’s recent product expansion, which includes plans for tokenized stocks, an AI-powered financial advisor, and a unified liquidity system designed to integrate U.S. and international markets.
In section Cryptocurrency
Ark Invest Shifts Fintech Portfolio, Adding Coinbase and Cutting Robinhood
Cathie Wood’s Ark Invest moved to consolidate its fintech holdings on Wednesday, acquiring 111,799 shares of Coinbase Global valued at $18.4 million. The firm simultaneously trimmed its exposure to Robinhood Markets, offloading shares worth nearly $29 million despite the brokerage’s recent performance gains in prediction markets.
While reducing its Robinhood stake by 275,572 shares, Ark Invest maintains a significant position in the brokerage; it currently accounts for 4.87% of the ARKK fund, or roughly $339.6 million. Robinhood shares rose 8.78% to close at $105.20 on Wednesday, buoyed by increased activity in its prediction markets. Alongside these shifts, Ark Invest added 236,759 shares of Block Inc. to its portfolio for $17.2 million, even as Block’s stock price slipped 2.46% to $72.84.
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