Cathie Wood's Ark Invest bought shares of Circle, Coinbase, Bullish, and Robinhood on Friday across three exchange-traded funds, marking a return to crypto-linked equities after a week-long pause. The purchases spanned the ARK Innovation ETF (ARKK), ARK Fintech Innovation ETF (ARKF), and ARK Next Generation Internet ETF (ARKW), according to the firm's trade disclosures. The buying followed a recent stretch of net selling in the crypto sector, with Ark last adding crypto-related stocks roughly a week earlier when it purchased Coinbase across two ETFs.
Ark Invest Allocates Largest Share Purchases Through ARKK
ARKK accounted for the largest share of the activity on Friday. The flagship fund picked up approximately 57,600 shares of stablecoin issuer Circle, roughly 50,000 shares of crypto exchange Coinbase, and about 42,100 shares of crypto exchange Bullish. ARKK also added approximately 12,300 shares of Robinhood, a brokerage that derives part of its revenue from crypto trading.
Coinbase represented the largest crypto purchase by trade size. The stock remains one of ARKK's bigger positions at roughly 3.9% of the fund, according to ARKK's holdings file.
Firm Scales Up Crypto Buys Across Two Trading Sessions
The renewed buying played out over two consecutive sessions. Ark made smaller crypto purchases on Thursday, adding Coinbase, Circle, and Bullish across its ARKK, ARKF, and ARKW funds, along with about 35,000 shares of Robinhood. The firm scaled up the additions sharply on Friday.
The purchases marked a reversal from Ark's recent activity in crypto-related stocks. On June 15, the firm was a net seller across its funds and did not record any crypto-related purchases. Instead, Ark trimmed positions including Bitmine Immersion Technologies from ARKK during that session.
Ark Invest Exits Alibaba and Roku Positions During Same Session
The buying reached beyond crypto. Ark added Recursion Pharmaceuticals, Palantir, and SpaceX during the same trading period. The firm also continued adjusting other parts of its portfolio, selling out of positions including Alibaba Group Holding and Roku across multiple ETFs during the same trading session.
ARKK's price closed up over 2% on Friday. COIN stock closed up over 4% during the past 24 hours. On Stocktwits, retail sentiment around ARKK remained in the 'bearish' zone, while chatter shifted to 'normal' from 'high' levels over the past day. Retail sentiment around COIN remained in the 'bearish' zone, with chatter staying at 'high' levels over the past day.
FAQ
What did Ark Invest buy on Friday?
Ark Invest bought shares of Circle, Coinbase, Bullish, and Robinhood on Friday across three ETFs: ARKK, ARKF, and ARKW. ARKK purchased approximately 57,600 Circle shares, 50,000 Coinbase shares, 42,100 Bullish shares, and 12,300 Robinhood shares, according to trade disclosures.
Why did Ark Invest resume buying crypto stocks?
The purchases marked a return to crypto-linked equities after a week-long pause. Ark last added crypto-related stocks roughly a week earlier, and the Friday buying reversed a recent stretch of net selling that included a June 15 session where the firm trimmed crypto positions.
