Ark Invest Boosts Coinbase and Robinhood Holdings During Market Downturn

Ark Invest, led by CEO Cathie Wood, purchased Coinbase (COIN) and Robinhood (HOOD) shares across its three exchange-traded funds on March 3. The acquisition came amid a market downturn that has pressured the crypto market and crypto-related equities. Google Finance data showed COIN was down 1.55% at market close, while HOOD dropped over 3.4%.

Ark’s buy-the-dip move signals continued conviction in crypto-adjacent equities, though rebalancing across multiple ETFs also amplifies exposure to sector volatility. Ark bought 22,452 Coinbase shares across the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF), a purchase worth roughly $4.09 million based on Tuesday’s closing price of $182.36.

It also acquired 158,587 HOOD shares through the same three ETFs, approximately $12.06 million at HOOD’s closing price of $76.07.

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