Cathie Wood’s Ark Invest Adds Nearly $10 Million In Coinbase And Circle Shares

Cathie Wood’s Ark Invest scooped up close to $10 million worth of Coinbase and Circle stock this week, continuing its pattern of buying into crypto linked companies during market dips.

Coinbase Purchase Details

The firm added over 54,000 Coinbase shares worth roughly $8 million, spread across three of its exchange-traded funds. The buying came after Coinbase stock tumbled more than 14% following its latest earnings report, even though the exchange posted strong growth in its prediction markets unit and hit record trading volumes for the quarter.

Circle Stock And Portfolio Rebalancing

The firm also picked up more Circle shares, worth about $1.4 million, as the stablecoin issuer’s stock slipped further. Circle recently gained a new regulatory approval that broadens its stablecoin business. Separately, the firm trimmed a small stake in a Solana-focused digital asset company as that stock continues struggling after a steep decline from its earlier highs.