Coinbase and Robinhood Gain Favor as Ark Invest Rebalances Crypto Portfolio

Cathie Wood's Ark Invest has made significant moves in its cryptocurrency portfolio, offloading Circle shares post-IPO and increasing stakes in Coinbase and Robinhood. This strategic shift highlights the firm's continued confidence in crypto-native platforms amidst market fluctuations. Below is a detailed summary of these developments.

Ark Invest Shifts Holdings: Offloads Circle Shares, Adds Coinbase and Robinhood

Cathie Wood's Ark Invest continues its strategic portfolio rebalancing, capitalizing on Circle's post-IPO surge while doubling down on crypto-native platforms. The firm sold $109.6 million worth of Circle shares across its ETFs this week, following last week's $160 million divestment. Circle's stock has skyrocketed 7.5x since its $31 IPO debut earlier this month.

Simultaneously, Ark deployed fresh capital into industry bellwethers, acquiring $1.3 million in Coinbase shares and $24.4 million in Robinhood stock. The moves suggest a calculated rotation from pure-play stablecoin exposure to diversified crypto infrastructure plays. Market observers note the timing coincides with growing institutional interest in regulated crypto on-ramps.

Sonic’s S Token Surges 16% on Coinbase Listing Announcement

Sonic’s native token S rallied 16% to $0.3208 after Coinbase revealed plans to list the asset. Trading for the S-USD pair will begin in phases starting June 24, contingent on liquidity conditions. The exchange warned users to only transfer S tokens on the Sonic network to avoid fund losses.

Market activity spiked immediately, with trading volume surging 76% to $266.6 million. Open interest climbed 9.57% to $25.47 million, signaling growing speculative interest. Despite the uptick, S remains 30% below its monthly high and 68% under its January 2025 peak of $1.03.

Coinbase listings typically broaden accessibility, particularly for retail traders. The exchange’s endorsement often serves as a catalyst for sustained momentum, though S faces stiff resistance levels ahead.

Ethereum Price Surges to $2,434 Amid Geopolitical Calm and Whale Accumulation

Ethereum led a crypto market rally, jumping 9% to $2,434 following Donald Trump's announcement of a dual-phase ceasefire between Israel and Iran. The geopolitical de-escalation revived risk appetite, with ETH stabilizing near $2,420 as investor confidence grew.

Whales aggressively accumulated ETH during recent market dips, with one entity purchasing 47,070 ETH worth $113 million in three days. Over 11 days, the same buyer acquired 132,535 ETH via OTC deals with Wintermute and Coinbase, totaling $333.78 million at an average price of $2,518.

Network fundamentals strengthened the bullish case—Ethereum has added approximately one million new wallet addresses weekly since mid-May. The combination of institutional demand and organic growth suggests sustained momentum for the asset.