ARK Invest Acquires $17M Worth of Coinbase and Circle Stock While Reducing Bullish Holdings

ARK Invest Acquires $17M Worth of Coinbase and Circle Stock While Reducing Bullish Holdings

Cathie Wood's ARK Invest purchased shares of Coinbase and Circle over two consecutive trading days while divesting approximately $8 million worth of Bullish stock amid declining cryptocurrency-related equities.

As cryptocurrency-related stocks experience downward pressure, Cathie Wood's investment firm ARK Invest has been accumulating shares in Coinbase and Circle while simultaneously reducing its position in Bullish, a crypto exchange operator.

Based on ARK's daily trade disclosures and Yahoo Finance closing prices, the investment firm acquired shares in cryptocurrency exchange Coinbase (COIN) valued at approximately $9 million and stablecoin provider Circle (CRCL) valued at $8 million during trading sessions on Friday and Monday.

The acquisitions comprised 64,208 shares of Coinbase and 110,551 shares of Circle distributed across three of ARK's exchange-traded funds (ETFs). During the same period, the funds offloaded 342,545 shares of Bullish (BLSH), representing approximately $8 million in value.

Monday's trading session saw all three stocks finish in negative territory. Coinbase experienced a decline of 3.98%, closing at $137.83, while Circle decreased by 0.63% to finish at $72.08, and Bullish saw a drop of 5.7%, ending the day at $22.54.

Additionally, ARK acquired approximately $646,000 worth of Robinhood shares on Monday. Yahoo Finance data shows the stock declined 1.4% to close at $83.80.

As of Tuesday, Circle appeared among the top five holdings in three separate ARK ETFs, according to ARK's holdings disclosures. The stablecoin issuer represented $270.3 million (4.6%) of ARKK's portfolio, $71.4 million (4.4%) of ARKW's holdings, and $42.6 million (5.9%) in ARKF.