Cathie Wood’s ARK Invest buys 54,776 Coinbase shares and 23,070 Circle shares
AI Market Summary
ARK Invest increased exposure to listed crypto infrastructure, buying ~$8m of Coinbase after a >14% post-earnings selloff and adding Circle amid continued drawdowns. The purchases signal institutional dip-buying in core crypto plumbing despite weaker near-term fundamentals and competitive risks to stablecoin issuers. Near-term, this can support sentiment and liquidity in crypto-linked equities, with Coinbase most directly affected.
Impact level
● Medium
Affected assets
NCSKCOIN2USD/USDT-0.80%
AI Insight · NCSKCOIN2USD/USDTAI Insight
● Neutral
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Cathie Wood’s ARK Invest bought 54,776 shares of Coinbase (COIN) worth about $8 million and 23,070 shares of Circle (CRCL) worth about $1.4 million. In ARK’s flagship ARKK fund, Coinbase is now the sixth-largest holding with a 4.2% weighting valued at around $238 million, while Circle is the ninth-largest holding valued at $210.5 million. The purchases came after COIN slid more than 14% following second-quarter results that missed Wall Street targets and after CRCL fell 4% last week, extending its year-to-date decline to 25%.
