Crypto Stocks HOOD and COIN Plummet Amid Weak Bitcoin and ETF Inflows

Crypto stocks Robinhood (HOOD) and Coinbase (COIN) are experiencing pre-market declines, falling 3% and over 4%, respectively. This drop is attributed to Bitcoin's price decline of nearly 2% ahead of the Senate's CLARITY Act vote and Wednesday's Federal Reserve rate decision.

Weaker inflows into Bitcoin ETFs are also contributing to pressure on crypto-related stocks. Looking at ownership, public companies and individual investors hold 34.97% of HOOD, followed by ETFs (25.07%), other institutional investors (20.02%), mutual funds (18.74%), and insiders (1.20%). Vanguard owns the highest stake in HOOD at 10.85%, with Vanguard Index Funds holding a 9.89% stake.

COIN ownership is split among public companies and individual investors, who own 40.41%. ETFs, other institutional investors, mutual funds, insiders follow, with 25.70%, 16.98%, 15.64%, and 1.27%, respectively. Vanguard holds the highest stake in COIN at 10.26%.