One of the industry’s largest investment firms has reshuffled its portfolio. In June 2026, Ark Invest reduced its Robinhood position—while adding to its Coinbase holdings. We break down the move.
Cathie Wood’s Ark Invest acquired 111,799 shares of Coinbase Global worth roughly $18.4M across three U.S. spot crypto ETFs: ARKK, ARKW, and ARKF. At the same time, the fund sold 275,572 Robinhood shares, netting nearly $29M. Ark also added 236,759 shares of Block Inc. for $17.2M.
Hot topic: Bybit Singapore Alert Leaves Exchange Seeking Answers
After the trades, Coinbase ranks eighth in ARKK’s portfolio at 3.71%, worth about $258.6M. Robinhood remains the fourth-largest position at 4.87%, valued at $339.6M.
Coinbase shares closed down 2.57% at $164.92, extending the monthly decline to nearly 13%. Robinhood, by contrast, rose 8.78% to $105.20 on news of staff cuts.
What’s Behind Ark Invest’s Trade: New Coinbase Products and Robinhood Layoffs
The day before the trade, Coinbase announced the launch of tokenized stocks, allowing users to buy, trade, and hold tokenized versions of US equities. The company also unveiled a system upgrade that includes an AI advisor and unified global liquidity for spot and derivative crypto products.
Benchmark Equity Research reaffirmed its “buy” rating, noting that Coinbase is evolving from a crypto exchange into a broader financial and on-chain provider.
Robinhood, meanwhile, announced a 10% headcount reduction as part of a shift to a more “high-performance” operating model. Bernstein analysts pointed to “strong tailwinds” for Robinhood, driven by record prediction market volumes during the FIFA World Cup. Daily turnover jumped from $2.2B on June 11 to $4.8B on June 12.
The crypto market showed little reaction to Ark Invest’s announcement. Over the past 24 hours, the top 10 digital assets by market cap have seen minimal volatility, as shown in the image below—short-term price movements remain subdued. On a longer weekly timeframe, most assets are still in the green, posting modest gains.
Learn more: What Is the Fortune Crypto 100 Ranking and How Are Firms Chosen?
