While reducing its holdings in Bullish, ARK Invest also purchased shares of Coinbase and Circle worth 17 million US dollars.
As crypto concept stocks decline, Kathy Wood (Cathie Wood)'s ARK Invest is buying shares of Coinbase and Circle, while simultaneously reducing its holdings in the crypto exchange operator Bullish.
According to the daily trading disclosures of ARK and the closing price data from Yahoo Finance, ARK purchased shares of the crypto exchange Coinbase ( COIN ) worth an estimated $9 million, as well as shares of the stablecoin issuer Circle ( CRCL ) worth $8 million, on last Friday and this Monday.
These purchases total 64,208 shares of Coinbase and 110,551 shares of Circle, which are distributed across three exchange-traded funds (ETFs) under ARK; at the same time, these funds also sold 342,545 shares of Bullish ( BLSH), worth approximately 8 million US dollars.
On Monday, all three stocks closed down. Coinbase fell by 3.98% to close at $137.83; Circle fell by 0.63% to close at $72.08; Bullish fell by 5.7% to close at $22.54.
ARK also bought approximately $646,000 worth of Robinhood shares on Monday. According to Yahoo Finance data, the stock fell by 1.4% and closed at $83.80.
According to the position disclosure of ARK, as of Tuesday, Circle was among the top five positions in the three ETF held by ARK: it accounted for 270.3 million US dollars (4.6%) in ARKK, 71.4 million US dollars (4.4%) in ARKW, and 42.6 million US dollars (5.9%) in ARKF.
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