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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
08/05/2026

Ark Invest Buys $9.4 Million in Coinbase and Circle, Trims Solmate Exposure

What happened: On August 3, 2026, Ark Invest purchased 54,776 shares of Coinbase (COIN) for approximately $8.

Ark Invest Buys $9.4 Million in Coinbase and Circle, Trims Solmate Exposure

What happened: On August 3, 2026, Ark Invest purchased 54,776 shares of Coinbase (COIN) for approximately $8.02 million and 23,070 shares of Circle (CRCL) for $1.39 million across its ARKK, ARKW, and ARKF funds. The firm also sold 5,700 shares of Solmate (SLMT), now down 99% from its September peak, for about $25,000. The trades followed Coinbase's Q2 2026 earnings miss, with revenue at $1.22 billion versus an expected $1.30 billion and GAAP EPS of -$1.36 versus -$0.42 estimated.

Why it matters: While the $9.4 million crypto-related purchases are modest relative to Ark's broader trading activity (the firm sold $33 million in Roblox and AMD the same day), the moves suggest a tactical "buy-the-dip" approach rather than a large-scale bullish bet. The trimming of Solmate, a Solana treasury company, underscores the volatility and risk in crypto-adjacent equities, especially as some tokens have experienced near-total drawdowns.

Source: The Block