Cathie Wood's ARK Invest bought Coinbase and Circle shares while selling Bullish, as all three stocks closed lower on Monday. The trades spanned three of ARK's ETFs across two trading sessions.
ARK Invest is buying Coinbase and Circle shares as crypto stocks fall, while it cuts its stake in crypto exchange operator Bullish. Cathie Wood's firm bought an estimated $9 million of Coinbase (COIN) and $8 million of stablecoin issuer Circle (CRCL) on Friday and Monday, according to its daily trade disclosures and closing prices from Yahoo Finance.
The purchases totaled 64,208 Coinbase shares and 110,551 Circle shares across three of ARK's exchange-traded funds. The same funds sold 342,545 shares of Bullish (BLSH), worth approximately $8 million.
All three stocks closed lower on Monday. Coinbase fell 3.98% to $137.83, Circle slipped 0.63% to $72.08 and Bullish dropped 5.7% to $22.54.
ARK also bought around $646,000 in Robinhood shares on Monday. That stock fell 1.4% to $83.80, according to Yahoo Finance.
Circle ranked among the top five holdings in three ARK ETFs as of Tuesday, accounting for $270.3 million (4.6%) of ARKK, $71.4 million (4.4%) of ARKW and $42.6 million (5.9%) in ARKF, according to ARK's holdings disclosures.
Source: Cointelegraph
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