Key facts
- ARK Invest acquired approximately $9.42 million in Coinbase and Circle stock.
- The ARK Innovation ETF was the largest buyer of Coinbase shares.
- The CLARITY Act remains a priority for Senate leadership before the August recess.
- A vote on the CLARITY Act has not yet been scheduled.
- Coinbase stock closed up 0.16% at $146.50, while Circle stock declined 3.61% to $60.35.
Cathie Wood's ARK Invest significantly increased its holdings in crypto-related companies Coinbase Global and Circle Internet Group on August 3, acquiring shares valued at approximately $9.42 million. The purchases come as the U.S. Senate is reportedly considering a vote on the CLARITY Act, a piece of legislation impacting the digital asset space, before its August recess.
The ARK Innovation ETF (ARKK) led the acquisition of Coinbase shares, buying 38,761 units worth about $5.68 million. The ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF) also contributed to the Coinbase purchase, bringing ARK's total acquisition to 54,776 shares valued at roughly $8.02 million.
In addition to Coinbase, ARK Invest also bought 23,070 shares of Circle, valued at approximately $1.39 million. The ARK Innovation ETF acquired 17,910 Circle shares, while the ARK Next Generation Internet ETF purchased 5,160 shares.
Senate Majority Leader John Thune indicated that the CLARITY Act is among the legislative priorities to be addressed before the Senate breaks for recess. However, the bill has not yet been officially posted on the Senate floor's agenda. Crypto analyst Ted Pillows cautioned that the timeline for a potential vote is narrowing, suggesting that a vote could occur as early as Friday if procedural steps are taken by Wednesday.