Cathie Wood‘s Ark Invest added to its position in Coinbase Global Inc (NASDAQ: COIN), Bullish (NYSE: BLSH), and Shopify Inc. (NASDAQ: SHOP) on Tuesday, leaning further into crypto-exposed names even as recent weakness in Bitcoin (CRYPTO: BTC) has pressured digital asset stocks and stirred valuation concerns around the leading U.S. crypto exchange.
The Coinbase Trade
Ark's flagship ARK Innovation ETF (BATS: ARKK) scooped up 28,315 shares of Coinbase, extending a long-standing conviction bet on the exchange despite a series of pullbacks tied to volatile moves in Bitcoin and other major tokens. Coinbase stock ended the day at $263.26; the trade was valued at $7.45 million.
The latest buy followed a session in late November when Coinbase shares fell alongside Bitcoin after an Argus Research downgrade to Hold, as the firm warned that the stock's earnings multiple had stretched well beyond levels seen at more traditional exchange operators.
Notably, Bitcoin spiked 6.6% over 24 hours to $92,309.13. The apex cryptocurrency traded between $86,216.69 and $92,316.63 in the period.
Even with that downgrade, Wall Street still expects Coinbase to deliver robust revenue growth over the next couple of years, powered by expanding digital-asset adoption and steady stablecoin activity on the platform.
The Bullish Trade
ARKK purchased 42,434 shares of Bullish, reinforcing Ark's view that institutional-grade crypto platforms will be key beneficiaries of the next phase of digital-asset growth. The investment was calculated to be worth $1.83 million, calculated on the basis of the stock ending the day at $43.06.
The Peter Thiel-backed company recently posted third-quarter revenue that topped analyst expectations while delivering earnings largely in line with forecasts, with management pointing to strong momentum in subscription and services income that helps cushion the impact of choppy trading volumes.
The Shopify Trade
ARKK picked up 21,132 shares of Shopify, extending Ark's exposure to e-commerce infrastructure just as the platform posts record holiday results. The shares of the e-commerce platform ended Tuesday at $156.83, making the transaction worth $3.3 million.
Shopify merchants generated $14.6 billion in sales over the Black Friday–Cyber Monday period, a 27% year-over-year jump fueled by more than 81 million shoppers, underscoring the company's leverage to global online spending.
Shopify has also highlighted strong adoption of Shop Pay and continued international demand, with roughly 16% of holiday orders coming from cross-border purchases and thousands of merchants logging their best-ever sales day.
Other Key Trades
Beyond the headline moves in Coinbase, Bullish and Shopify, Ark fine-tuned several positions across its ETFs during Tuesday's session.
- ARKK trimmed satellite operator Iridium Communications Inc. (IRDM) by 178,055 shares, while ARKQ and ARKX sold 43,947 and 12,296 shares respectively.
- ARKK pared exposure to streaming platform Roku Inc. (ROKU) with a 181,303-share sale.
- ARKQ added 250,089 shares of autonomous-driving player WeRide Inc. (WRD), underscoring Ark's long-term optimism around robotics and self-driving technology despite sector-wide funding and regulatory headwinds.
- ARKW modestly increased its stake in retail brokerage Robinhood Markets Inc. (HOOD) with a 1,951-share purchase.
- Across ARKF and ARKW, Ark sold a combined 43,182 shares of Ibotta Inc. (IBTA).