Cathie Wood's ARK Invest expanded its positions in Coinbase, Circle, Bullish, and Robinhood by purchasing approximately $16.9 million worth of shares on Monday across several exchange-traded funds. According to ARK Invest's latest daily trade disclosure, Coinbase led the purchases with a $6.85 million investment in 45,164 shares, followed by $6.21 million in Circle with 81,757 shares. The latest transactions follow several rounds of buying earlier in the week, when ARK increased its exposure to many of the same companies after their share prices declined. The firm previously bought $18 million worth of Coinbase shares and $32.5 million worth of SpaceX shares during the same period.
The Monday purchases included 45,164 Coinbase shares valued at approximately $6.85 million at Monday's closing price of $151.65, with Coinbase closing up 1.74% for the day. Circle Internet Group followed with 81,757 shares worth about $6.21 million using the stock's $75.96 close, rising 3.25% on the session. Bullish gained 1.72% to $23.69, contributing 149,422 shares valued at around $3.54 million. Robinhood climbed 3.18% to $101.83, adding 2,943 shares worth about $299,685. The trades came across ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Blockchain & Fintech Innovation ETF, with the firm maintaining its policy of limiting any single holding to no more than 10% of a portfolio.
Circle's stock surge came on the same day that BNY announced an expanded relationship with Circle, with USDC becoming the first stablecoin on BNY's Digital Asset Custody platform. BNY said the launch builds on its role as primary custodian of USDC reserves, providing clients tools to store, transfer, mint and burn USDC. Carolyn Weinberg, BNY's chief product and innovation officer, stated that "As digital assets become increasingly integrated into financial markets, institutions need infrastructure that seamlessly works across traditional and blockchain-based systems." Kash Razzaghi, Circle's chief commercial officer, noted that "BNY has always been where institutional finance moves first, and making USDC the first stablecoin included in their new offering reflects the regulatory rigor Circle has built into USDC from day one."
Coinbase remains in focus after launching tokenized U.S. stock products earlier this month, including 1:1-backed tokenized shares of SpaceX, Nvidia, Google, Strategy, and Bitmine as part of its "Everything Exchange" plan. As reported by crypto.news, Coinbase CEO Brian Armstrong said, "For the first time, these are real 1:1 backed tokenized stocks you can trust. You own an actual chunk of the company onchain." The product allows users to buy, hold, trade and redeem tokenized equity on-chain while receiving dividends linked to the underlying shares. This latest acquisition extends a pattern of buying stocks after sharp pullbacks, following similar strategies in previous weeks.
