Key facts
- ARK Invest purchased $43.5 million in shares of crypto-related companies.
- The purchases included Coinbase, Circle, Bullish, and Robinhood.
- These acquisitions were made during a market dip and amid recent volatility in digital assets.
- The shares were allocated across ARK's ETFs, primarily ARKK.
- Coinbase, Circle, Bullish, and Robinhood stocks all closed higher on Monday.
Cathie Wood's ARK Invest has purchased approximately $43.5 million worth of shares in several cryptocurrency-related companies, including Coinbase, Circle, Bullish, and Robinhood. The acquisitions were made across three of its exchange-traded funds (ETFs): ARKK, ARKW, and ARKF, with the majority allocated to the ARK Innovation ETF (ARKK).
The firm bought 45,164 shares of Coinbase, valued at about $6.85 million, and 81,757 shares of Circle Internet Group, worth nearly $6.21 million. Additionally, ARK Invest acquired 149,422 shares of crypto exchange Bullish for approximately $3.54 million and increased its Robinhood position by purchasing 2,943 shares for roughly $300,000.
These purchases signal ARK Invest's continued optimism in the crypto space despite recent market volatility and selling pressure on digital assets. The investments follow a similar buying spree last week. On Monday, Coinbase, Circle, Bullish, and Robinhood stocks all closed in positive territory, with Coinbase up 1.74%, Circle up 3.25%, Bullish up 1.72%, and Robinhood up over 3%. Goldman Sachs recently raised its price target for Robinhood stock to $121 with a 'buy' rating.