ARK Invest adds to Coinbase, Circle and Bullish positions…raises crypto-related equity exposure during pullback

Suehyeon Lee

Summary

ARK Invest said it increased its weighting in crypto assets-related stocks again during a pullback in related share prices.
It said the ARK Innovation ETF and ARK Fintech Innovation ETF made additional purchases of Coinbase, Circle and Bullish shares worth about $9.4 million, $9.2 million and $3.2 million, respectively.
It said ARK increased crypto assets-related stocks while also selling 12,400 shares of Meta for about $8.03 million, a move seen as rebalancing alongside a selective increase in exposure.

ARK Invest, led by Cathie Wood—dubbed the “money-tree sister”—has recently increased its allocation to crypto (cryptocurrency)-related stocks again amid a pullback in the sector.

According to Cointelegraph on the 25th (local time), ARK Invest’s disclosed daily trading records show that the ARK Innovation ETF (ARKK) bought 38,854 shares of Coinbase Global. The ARK Fintech Innovation ETF (ARKF) also added 3,325 shares. Combined, the two ETFs purchased roughly $9.4 million worth of Coinbase. Coinbase shares closed down 2.77% on the day at $216.95.

ARK also raised its exposure to Circle. ARKK and ARKF bought an additional 129,446 shares of Circle, with the investment estimated at about $9.2 million. Circle shares were relatively steady, slipping just 0.03% on the day. In addition, ARK added 88,533 shares of Bullish to the same ETFs, with the purchase totaling about $3.2 million. Bullish shares finished trading at $35.75, down 2%.

Meanwhile, while increasing crypto-related holdings, ARK trimmed some existing positions. It sold 12,400 shares of Meta, with proceeds totaling about $8.03 million. The move is seen as selectively increasing exposure to the crypto sector while simultaneously rebalancing the overall portfolio.