Robinhood customer base grows, Ark Invest holds firm on Coinbase amidst rally

Robinhood announced that its total funded customer base expanded to 23.6 million by the end of February, marking an increase of approximately 130,000 from January. Furthermore, all other key metrics showed improvement month-over-month, with trading volumes across various asset classes, particularly equities, surpassing January levels. Additionally, Robinhood holds a significant position in Ark's flagship ARKK ETF, ranking among the top ten holdings with a 4.48% share of the portfolio.

Ark Invest, despite having sold a considerable amount of Coinbase Global COIN shares amid the cryptocurrency exchange's recent surge, did not engage in COIN transactions on Thursday. Coinbase remains the primary holding of ARKK, with the fund currently possessing 3,259,016 shares valued at $761.53 million.

Meanwhile, Coinbase's shares closed Thursday's session with a 7.17% decline to $233.67, despite experiencing a rally since late October driven by speculation surrounding potential Bitcoin approval, resulting in a year-to-date gain of over 34%.