Ark Invest buys Coinbase, Circle, Robinhood amid declines
6.6 Investments Ark Invest bought $3.4M in Coinbase, $2.6M in Circle, and $645K in Robinhood, while selling $2.3M in Bullish. The trades followed Coinbase’s strong Q3 net income report.
Ark Invest increased its holdings in Coinbase, Circle, and Robinhood on November 2, acquiring $3.4 million in Coinbase shares, $2.6 million in Circle, and $645,820 in Robinhood, according to multiple trading disclosures. These purchases were made through ARK’s exchange-traded funds—ARKK, ARKW, and ARKF—even as all three stocks closed lower that day. Simultaneously, Ark Invest sold 104,172 shares of Bullish, valued at $2.3 million, after the stock declined by 5.69%. The transactions came shortly after Coinbase reported a 66% year-on-year increase in net income to $719 million for the third quarter, despite a 35% annual drop in revenue. These moves highlight Ark Invest’s ongoing strategic focus on the cryptocurrency and fintech sectors, particularly major trading platforms and infrastructure companies.
