Cathie Wood’s ARK adds Coinbase, Circle, Bullish as crypto slides
The fourth-quarter crypto pullback hit ARK ETFs, with Coinbase emerging as the biggest drag on performance.
Cathie Wood’s ARK Invest has increased its exposure to crypto-linked equities, adding shares of Coinbase, Circle and Bullish as prices slid across the sector.
According to ARK’s daily trade disclosures for Friday, the ARK Innovation ETF (ARKK) purchased 38,854 shares of Coinbase Global Inc., while the ARK Fintech Innovation ETF (ARKF) added another 3,325 shares, acquiring a total of $9.4 million worth of the exchange shares. Coinbase shares closed down 2.77% on the day at $216.95.
ARK added a combined 129,446 shares of Circle Internet Group across ARKK and ARKF, a position worth roughly $9.2 million. The firm also added 88,533 shares of Bullish across the same ETFs, investing about $3.2 million. Circle shares were little changed on the day, slipping 0.03% while Bullish shares declined 2% during the session, closing at $35.75.
Read more
