Key facts
- ARK Invest acquired $43.5 million in shares of crypto-related companies.
- Major purchases included Coinbase and Circle, which have seen significant price declines.
- The firm also bought shares in Bullish, Robinhood, and SoFi Technologies.
- These acquisitions were primarily allocated to the ARK Innovation ETF (ARKK).
- ARK also adjusted positions in SpaceX, Palantir, Alibaba, and Roku.
ARK Invest, led by Cathie Wood, has strategically acquired $43.5 million worth of shares in various crypto-related companies over the past three trading days, capitalizing on a market downturn. The firm's most significant purchases included Coinbase and Circle, which have experienced notable price drops in the preceding month. Specifically, ARK bought approximately $18.6 million in Coinbase shares and $12.9 million in Circle shares. Additionally, the asset manager invested around $5.2 million in crypto exchange Bullish, $5.12 million in brokerage firm Robinhood, and $1.69 million in crypto-friendly bank SoFi Technologies.
These acquisitions come at a time when many crypto-related stocks, including CRCL, COIN, and BLSH, have seen substantial declines. Bitcoin also recently fell to a near two-year low. The majority of the newly acquired shares were allocated to ARK's flagship ARK Innovation ETF (ARKK), with additional investments made into the ARK Next Generation Internet ETF (ARKW) and the ARK Blockchain & Fintech Innovation ETF (ARKF). Concurrently, ARK Invest also increased its holdings in Elon Musk's SpaceX and the software intelligence platform Palantir, while reducing its positions in companies such as Alibaba, Roku, and Strata Critical Medical.