Cathie Wood’s Ark Invest bought an extra $8M worth of Coinbase COIN stock on the 3rd of August. According to the asset manager’s daily trades, $716.3K worth of COIN was acquired by ARKF, its fintech ETF tracker.
Another $5.7M COIN buy was made by ARKK, its innovation ETF index. Finally, $1.6M was purchased by ARKW, the asset manager’s next-generation ETF index. Overall, this brought Ark Invest’s COIN bid to over $8M on Monday.
Ark Invest bets on Coinbase, Circle, and Robinhood
The firm now has COIN holdings worth $324.2M, ranking 13th or 2.7% weight across its total exposure. Circle’s CRCL holdings are estimated at $297M, ranked 14th. Robinhood, Coinbase, and Circle have remained the top crypto infrastructure exposures held by Ark Invest.
That said, Ark Invest’s latest buy appeared aimed at maximizing last week’s discount window. COIN dropped nearly 8% last week after missing the revenue target for Q2 2026. The exchange reported total revenue of $1.22B in Q2, falling short of the analyst’s forecast of $1.284B.
Additionally, the revenue was a 14% and 19% drop on a quarterly and yearly basis. The stock fell 5% after the report and extended the losses to 7.6% last week.
Some critics claimed that Robinhood was also increasingly eating away at Coinbase’s market share and would eventually become a threat.
Although Coinbase increased its Spot crypto market share to a record 10% globally, Robinhood and Hyperliquid have become key venues for speculation and other financial services.
Analysts’ outlook for Coinbase stock
The stock is now down 68% from its 2025 peak of $444.65. But the pullback was back to a key support that has been resilient in 2025 and 2026.
Whether the two-year support at $140 will prevent further downside risk remains to be seen.
Even so, analysts appeared bullish at COIN’s current valuation. About 18 analysts issued an overweight rating, led by Cantor Fitzgerald, Goldman Sachs, and Mizuho.
So far, the analyst consensus target was at $215, implying a 46% upside potential from COIN’s current value of $146.
Despite Coinbase and Robinhood’s cut-throat competition, Ark Invest is betting on both crypto infrastructure players. It increased its COIN exposure by $8M earlier this week despite skepticism from critics on the exchange.
Final Summary
- Ark Invest bought an extra $8M of COIN on Monday, bringing its Coinbase stock holdings to $324M.
- Analysts’ consensus targeted $215, implying a 46% upside potential if the level is hit.
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