Key facts
- ARK Invest bought shares in Coinbase, Robinhood, and Circle on June 25.
- The firm's ETFs acquired thousands of shares across these companies.
- The purchases occurred during a market pullback for these stocks.
- ARK Invest also recently invested in SpaceX stock.
Cathie Wood's ARK Invest strategically bought shares of several crypto-related companies on June 25, capitalizing on a market dip. The firm's various exchange-traded funds (ETFs) acquired significant stakes in Coinbase, Robinhood, and Circle, which had all experienced price declines.
The ARK Innovation ETF (ARKK) was particularly active, purchasing 35,023 shares of Robinhood, valued at approximately $3.27 million. In total, ARK Invest acquired 9,014 shares of Coinbase, worth about $1.28 million, and 3,164 shares of Circle, valued at roughly $217,700. The firm also added to its holdings in Bullish, acquiring 9,136 shares for nearly $199,900.
These transactions follow ARK's recent purchase of over 111,000 Coinbase shares and a substantial $32.5 million investment in SpaceX stock across four of its ETFs. Despite ARK's buying pressure, Coinbase stock has seen significant declines.