Cathie Wood’s Ark Invest spent Tuesday buying shares of two companies that rewarded the purchase by the following morning. The firm added $12 million in Robinhood stock and $4 million in Coinbase before Wednesday’s opening bell — and both positions jumped sharply once trading began, with Coinbase climbing 13% and Robinhood rising 9% within hours.
Ark operates as an actively managed fund, meaning Wood’s team makes deliberate daily decisions about where to add and where to trim. Tuesday’s purchases extended already substantial stakes in both companies.
Before Wednesday’s open, Ark held approximately $343 million worth of Coinbase shares and $340 million in Robinhood across its ETF suite. After the additions, both positions moved up the holdings ladder to rank as the 10th and 11th largest in the firm’s portfolio.
The recovery, however welcome, arrives against a difficult backdrop. Coinbase stock still sits roughly 33% below where it traded six months ago. Robinhood carries a 19% loss over the same period. One strong morning does not erase months of pressure, and both companies remain well off the highs they reached during more favorable market conditions.
Bitcoin’s trajectory provided the clearest context for the rebound. The asset climbed more than 8% in 24 hours to trade around $72,100 — a meaningful recovery, though still approximately 43% below its all-time high of $126,080 reached in October.
When Bitcoin moves with conviction, companies whose revenue depends directly on crypto trading volumes tend to follow. Coinbase and Robinhood both fit that profile, which explains why their stock prices tracked the broader market recovery so closely.
Ark chose not to add to its stake in Circle, the stablecoin issuer behind USD Coin, despite the broader buying across the portfolio. Circle currently ranks as Ark’s sixth-largest position with roughly $370 million in total shares — a larger stake than either Coinbase or Robinhood. The firm reported more than 70% growth in stablecoin issuance and revenue during the fourth quarter, yet Ark left the position unchanged rather than building on it during the dip.
Ark also held steady on BitMine Immersion Technologies, an Ethereum treasury company that gained more than 7% on Wednesday as Ethereum itself climbed to $2,072. The decision to hold rather than add suggests Ark considers both positions adequately sized at current levels, even as prices moved in their favor.
The broader pattern across Tuesday’s activity points to a firm that reads short-term price weakness as an entry opportunity in companies it already holds with conviction. Ark did not open new positions or rotate into unfamiliar names. Instead, it added to two established holdings — Coinbase and Robinhood — at prices that, by the next morning, already looked like a discount.
