Ark Invest Buys Coinbase, Circle, Bullish and Robinhood on Share-Price Drop

Ark Invest, led by Cathie Wood, added to its holdings in Coinbase (COIN), Circle (CRCL), Bullish (BLSH) and Robinhood (HOOD) as the stocks fell.

The Block reported on June 25 that Ark bought 9,014 Coinbase shares through its exchange-traded funds. Based on the closing price, the purchase was worth about $1.28 million.

Ark also bought 9,264 Circle shares worth about $637,000 and 9,136 Bullish shares worth about $200,000. Through the ARKK ETF, it added 35,023 Robinhood shares valued at about $3.27 million.

The purchases came as all four stocks declined that day. Coinbase closed down 5% at $142.52, Circle fell 3% to $68.81, and Robinhood dropped 3.85% to $93.47. Bullish tumbled 6.77% to $21.88.

Ark manages its ETFs so that no single stock exceeds 10% of fund assets. It adjusts holdings continually in response to share-price moves.

Wood also outlined her view for slowing inflation in a post on X on June 25. She wrote that rising labor productivity is acting as a powerful deflationary force and that inflation measured by unit labor costs has already fallen to 0.5% from a year earlier.

She added that she believes Kevin Warsh, as Federal Reserve chair, would understand both the price-lowering effects of productivity gains and the limitations of government inflation indicators. In her view, he would take a new approach to monetary policy that differs from market expectations.