Cathie Wood’s ARK Buys Coinbase and Circle on the Dip While Trimming Bullish

ARK Invest added to its positions in Coinbase and Circle on Friday and Monday as crypto equities slid. Daily trade disclosures show it picked up 64,208 Coinbase shares, worth an estimated $9 million, and 110,551 Circle shares, worth about $8 million. The buying was spread across three of its exchange-traded funds. ARK also bought roughly $646,000 of Robinhood stock on Monday.

ARK Sells Bullish Shares

While adding to those names, the firm reduced its exposure to exchange operator Bullish by selling 342,545 shares, valued at about $8 million. Bullish dropped 5.7% on Monday to $22.54.

Coinbase, Circle and Robinhood Share Prices

All three stocks closed lower on Monday. Coinbase fell 4% to $137.87, Circle edged down 0.63% to $72.08, and Robinhood lost 1.4% to $83.80.

Circle’s Weight in ARK Funds

Circle remains one of the top five holdings in three ARK funds. It makes up $270.3 million, or 4.6%, of ARKK, $71.4 million, or 4.4%, of ARKW, and $42.6 million, or 5.9%, of ARKF.