Cathie Wood Buys COIN Stock After Post-Earnings Slide, Adds CRCL Shares Before Its Results

What happened

ARK Invest bought 24,790 Coinbase shares and 35,657 Circle shares across three funds on Monday, while selling 104,172 Bullish shares. It also bought 7,703 Robinhood shares. Based on Monday’s closing prices, the Coinbase, Circle, and Bullish trades were worth about $3.4 million, $2.6 million, and $2.3 million, respectively.

Confirmed

Global impact / market context

The purchases add Coinbase and Circle exposure to ARK’s funds, while the Bullish sale reduces that holding. Coinbase’s latest quarter showed revenue flat from the prior quarter and down year over year, so future trading activity and recurring revenue could shape whether its business improves.

Analyst inference

Coinbase reported about $1.2 billion in third-quarter revenue, meeting Wall Street’s forecast, and a loss of $0.09 per share, also in line with expectations. The article says investors questioned the quality of profits because unrealized crypto gains, rather than trading or recurring revenue, drove much of them.

Confirmed

What to watch

1. Watch Coinbase’s next results for trading and recurring revenue growth, which would show whether the business is gaining strength beyond unrealized gains on cryptocurrency holdings. Analyst inference
2. Circle’s upcoming results may clarify whether its revenue and operating performance support the shares ARK bought before the company reported. Analyst inference
3. Future ARK disclosures can show whether its funds continue adding Coinbase or Circle, or resume selling Bullish, indicating changes in the portfolio’s holdings. Analyst inference

Affected assets

• USDC — USD Coin

Evidence

• stocktwits.com