Ark Invest buys the dip in Coinbase, Robinhood amid geopolitical volatility
Ark Invest purchased significant shares of Coinbase and Robinhood amid broader market declines driven by geopolitical uncertainty.Summary
Cathie Wood's Ark Invest acquired additional shares of Coinbase and Robinhood Markets across its ETFs on Tuesday, increasing its exposure to crypto-linked equities during a period of global market volatility. The firm bought approximately $4.09 million worth of Coinbase shares and $12.06 million worth of Robinhood shares. These purchases occurred as both stocks declined, influenced by geopolitical uncertainty surrounding the U.S.-Iran conflict, which also caused the Nasdaq and S&P 500 to dip. Ark frequently adds to its positions in these companies during downturns, reflecting a long-term conviction. Currently, Coinbase is the sixth-largest holding in the ARKK ETF (4.21% weighting), and Robinhood ranks seventh (4.07% weighting), adhering to Ark's strategy that limits any single holding to about 10% of a fund's portfolio.
(Source：The Block)