ARK Invest Adds $17M to Coinbase and Circle Holdings

ARK Invest purchased shares of Coinbase and Circle across two recent trading sessions. The total investment reached $17 million, with $9 million allocated to the exchange Coinbase and $8 million to the stablecoin issuer Circle.

The move occurred alongside the sale of Bullish shares. The firm offloaded 342,545 shares of the company for approximately $8 million. The transaction was recorded across three of the company's exchange-traded funds.

The acquisitions included 64,208 shares of Coinbase and 110,551 shares of Circle. During the same period, ARK also bought about $646,000 in Robinhood shares. All mentioned assets saw their closing prices drop last Monday.

Coinbase shares fell 3.98%, while Circle declined by 0.63%. Bullish saw the steepest drop among the mentioned assets with a 5.7% decrease. Robinhood also followed the negative market trend with a 1.4% fall.

Currently, Circle ranks among the top five holdings in three of the firm's funds. The amount invested in the stablecoin issuer reaches $270.3 million in the ARKK fund, $71.4 million in ARKW, and $42.6 million in ARKF.