Ark Invest rotates: Buys Coinbase, sells Robinhood

Ark Invest bought $18.4M in Coinbase shares amid a 13% decline and sold $29M in Robinhood shares as HOOD hit a 6-month high. Robinhood remains a top ARK holding; Coinbase continues to innovate.

Ark Invest recently acquired approximately $18.4 million worth of Coinbase shares across three ETFs, purchasing 111,799 shares at a closing price of $164.92. This move came as Coinbase stock experienced a monthly decline of nearly 13%. As a result, Coinbase became the eighth-largest holding in the ARK Innovation ETF, with a 3.71% weighting. At the same time, Ark Invest sold 275,572 Robinhood shares valued at about $29 million. This sale occurred despite Robinhood's stock rising 8.78% to $105.20, reaching its highest level since January 2026. The sale appears to be a profit-taking strategy, as Robinhood shares have surged 38% since mid-May. Wall Street sentiment on Robinhood remains positive, with major analysts reiterating buy ratings after the company's restructuring plan, which included a 10% workforce reduction. Meanwhile, Coinbase continues to innovate, launching tokenized equities, an AI-powered advisor, and a unified liquidity system. Despite mixed analyst ratings and a significant drop from its 52-week high, institutional interest in Coinbase remains strong.