According to TechFlow, citing a report from The Block on June 18, Ark Invest adjusted positions across its funds on June 17 by purchasing 111,799 shares of Coinbase. Based on the closing price, the Coinbase purchase was worth about $18.4 million. The transaction involved three exchange-traded funds under Ark: ARKK, ARKW and ARKF.
Coinbase purchase paired with Robinhood sale
On the same trading day, Ark Invest reduced its Robinhood position by selling 275,572 shares, generating close to $29 million in proceeds. The disclosed transactions show Ark adding exposure to Coinbase while cutting its Robinhood holdings. The reported figures were calculated using closing-price values, and the trades covered companies linked to crypto trading, online brokerage services and financial technology.
Ark’s activity was not limited to Coinbase and Robinhood. ARKK, one of Ark’s funds, also bought 236,759 shares of Block Inc., a purchase valued at around $17.2 million. Taken together, the June 17 transactions covered Coinbase, Robinhood and Block Inc., with buying activity in Coinbase and Block and selling activity in Robinhood.
Share-price moves diverged on the day
Share prices of the three companies moved in different directions that day. Coinbase fell 2.57%, Robinhood rose 8.78%, and Block declined 2.46%. In the transactions reported by The Block, Ark bought Coinbase and Block shares on a day when both stocks closed lower, while reducing Robinhood shares on a day when Robinhood closed higher.
On the news front, Coinbase had previously announced that it would launch tokenized stocks and released a system update. The update included an artificial intelligence adviser and unified liquidity for U.S. and international spot and derivatives markets. These Coinbase-related developments were included in the same report that detailed Ark Invest’s latest share purchases and sales.