Ark Invest Buys $18.4M Coinbase Shares, Sells $29M Robinhood on Wednesday

According to Ark Invest's Wednesday trading disclosure, the firm bought 111,799 Coinbase shares worth $18.4 million across three of its ETFs—the Innovation, Next Generation Internet, and Blockchain and Fintech Innovation funds. The purchase came as Coinbase fell 2.57% to $164.92.

Ark simultaneously sold 275,572 Robinhood shares valued at nearly $29 million from its Innovation ETF after Robinhood gained 8.78% to $105.20, and bought 236,759 Block shares worth about $17.2 million as Block declined 2.46% to $72.84. Despite the sale, Robinhood remains the Innovation ETF's fourth-largest holding at 4.87%, while Coinbase ranks eighth at 3.71%. The trades reflect a portfolio rotation into weakness; Coinbase announced Tuesday it would launch tokenized U.S. equities and introduce an AI-powered advisory system alongside unified global liquidity infrastructure.