Cathie Wood's Ark Invest Buys the Dip on Coinbase and Robinhood—Both Now Surging
Ark Invest, led by Cathie Wood, purchased $4 million in Coinbase (COIN) and $12 million in Robinhood (HOOD) shares during a market dip linked to tensions in Iran. Both stocks rebounded sharply, rising about 13% and 9%, though each remains significantly down over six months. These buys strengthen Ark’s large positions in COIN and HOOD, already among its top ETF holdings, now totaling roughly $343 million (COIN) and $340 million (HOOD). The purchase partially reverses previous COIN sales made during a Bitcoin downturn. Bitcoin has since surged over 8% in 24 hours, influencing market sentiment to favor further gains. Ark also acquired a small increment in Brera Holdings (SLMT) but did not buy more Circle (CRCL), its sixth-largest holding, despite Circle’s recent 27% rally after announcing strong stablecoin growth. Ark maintained its position in Ethereum-focused BitMine, which also saw gains alongside Ethereum’s price rise.
