ARK buys $17M in Coinbase, Circle shares while trimming Bullish — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- ARK Invest purchased approximately 64,208 Coinbase shares worth $9 million and 110,551 Circle shares worth $8 million across three ETFs on Friday and Monday, as crypto stocks fell.
- ARK Invest sold 342,545 shares of Bullish (BLSH) worth about $8 million during the same period, trimming its position in the crypto exchange operator.
- Coinbase shares declined 3.98% to $137.83, Circle slipped 0.63% to $72.08, and Bullish dropped 5.7% to $22.54 on Monday, following broader crypto market weakness and a reported $6.3B Binance hack.
- Circle now represents a top-five holding in three ARK ETFs, accounting for 4.6% of ARKK, 4.4% of ARKW, and 5.9% of ARKF, with a combined value of $384.3 million as of Tuesday.
- ARK Invest also bought $646,000 in Robinhood shares on Monday, even as the stock fell 1.4% to $83.80, extending its interest in crypto-adjacent financial platforms.
Why it matters: ARK’s $17M in buys against a backdrop of falling crypto stocks reveals a calculated bet on foundational crypto firms like Coinbase and Circle, while exiting part of its Bullish stake. This reshuffling suggests a preference for established players over newer exchanges, even as all three declined—making ARK’s move a signal of stratified confidence in crypto infrastructure.
Ask SkimNews
