Cathie Wood’s ARK Invest Buys The Dip, Adds Circle, Bullish, Coinbase, And Block Shares Worth $95M
Cathie Wood’s ARK Invest has bought more shares in USD Coin (USDC) stablecoin issuer Circle, trading platform Bullish, Jack Dorsey’s Block Inc, and crypto exchange Coinbase
The buys came as Circle, Bullish, and Coinbase extended their monthly losses to 51%, 28%, and 29%, respectively, after additional falls yesterday. Block shares rose 2% but remain down 20% over the past month.
According to the firm’s latest disclosures, ARK purchased Circle shares worth $76 million, Bullish shares for $1.52 million, Block Inc. shares for $13.6 million, and Coinbase shares for $3.86 million.
Ark Invest Also Buys Robinhood, Its Own Spot Bitcoin ETF, And Klarna
ARK also bought shares in the digital asset trading platform Robinhood Markets, which said early this month that it’s revenue from its crypto trading platform surged more than 300% in the third quarter to reach $268 million.
The company has also expanded into prediction markets, which it says is one of its fastest-growing businesses.
In its latest trade disclosures, Ark Invest said that it purchased 7,604 HOOD shares through the ARK Next Generation Internet ETF (ARKW).
The asset management firm also bought shares in its own US spot Bitcoin ETF (exchange-traded fund), which trades under the ticker symbol “ARKB.”
More than 30k ARKB shares were bought via ARKW, while another 65,827 shares were purchased through ARKF.
Ark Invest also bought 41,423 Klarna Group shares via ARKF. This is after Klarna said that it is testing its own stablecoin.
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