Ark Invest Increases Coinbase and Robinhood Exposure Amid Broader Risk-Off Sentiment

Ark Invest, an investment management firm led by CEO Cathie Wood, purchased Coinbase (COIN) and Robinhood (HOOD) shares across its three exchange-traded funds (ETFs) on March 3. The acquisition comes amid a broader market downturn that has pressured the crypto market as well as crypto-related equities. Why it matters: Google Finance data showed that COIN was down 1.55% at market close. Furthermore, HOOD dropped over 3.4%. Ark's buy-the-dip move signals continued conviction in crypto-adjacent equities ...