Cathie Wood Goes All In on Coinbase, Circle, and Robinhood Stocks on Monday

TLDR

• Ark Invest bought $6.85 million in Coinbase shares, $6.21 million in Circle Internet Group shares, and $3.54 million in Bullish shares on Monday.
• Ark also added 2,943 shares of Robinhood, worth about $299,685.
• Coinbase, Circle, Bullish, and Robinhood stock all closed higher on Monday as the S&P 500, Dow Jones, and Nasdaq rallied.
• Circle expanded its partnership with Bank of New York Mellon to offer stablecoin custody and transfer services to institutional clients.
• Ark also sold shares of Twist Bioscience and 10X Genomics while buying Kratos Defense and CoreWeave stock.

Cathie Wood’s Ark Invest purchased shares in several crypto-related companies on Monday as U.S. stock markets moved higher. The trades were spread across three of Ark’s exchange-traded funds: ARKK, ARKW, and ARKF.

Ark bought 45,164 shares of Coinbase across the three funds. The purchase was worth $6.85 million based on Monday’s closing price.

Coinbase Global, Inc., COIN

The firm also purchased 81,757 shares of Circle Internet Group. That trade was valued at $6.21 million.

Coinbase, Circle, Bullish, and Robinhood Shares Rise

Ark added 149,422 shares of Bullish, a crypto exchange, worth $3.54 million. The fund also grew its Robinhood position by 2,943 shares, worth roughly $299,685.

All four companies saw their stock prices rise on Monday. Coinbase closed up 1.74% at $151.65. Circle gained 3.25% to close at $75.96.

Bullish climbed 1.72% to $23.69. Robinhood rose 3.18% to $101.83.

The gains came as the broader market rallied. The S&P 500, Dow Jones, and Nasdaq Composite all closed higher on Monday.

Ark manages its ETF holdings with a rule that no single stock can make up more than 10% of any fund’s portfolio. This means the firm regularly rebalances its holdings when stock prices move sharply.

Circle Expands Stablecoin Partnership

On Monday, Circle announced an expanded partnership with Bank of New York Mellon. The deal will let institutional clients custody, transfer, mint, and burn USDC stablecoins directly through BNY’s digital wallets.

Coinbase also made news this month by launching tokenized U.S. stocks on its platform. The feature lets users trade tokenized versions of equities.

Benchmark Equity Research kept its “Buy” rating on Coinbase stock earlier this month. The firm pointed to the tokenized equities launch and set a price target of $270 for the stock.

Ark’s daily trading activity was not limited to crypto companies. The fund also bought 68,906 shares of CoreWeave, a cloud computing company, for $6.65 million.

Ark sold shares in other companies on the same day. The fund sold 47,874 shares of Twist Bioscience for $4.78 million.

It also sold 127,305 shares of 10X Genomics, totaling $4.67 million. Ark reduced its position in Alibaba as well, selling 9,272 shares for $879,078.

The fund bought 138,735 shares of Kratos Defense and Security Solutions for $6.55 million. It also purchased 232,219 shares of X-Energy for $4.38 million.

Ark made smaller trades in biotech stocks too. The fund sold 198,392 shares of Absci for $2.16 million and bought 136,406 shares of Generate Biomedicines for $2.25 million.

Ark also added 8,433 shares of Snowflake, worth $2.10 million. The Monday trades show Ark spreading its money across crypto, cloud computing, defense, and biotech companies.

The trading disclosures are released daily and show Ark’s ETF activity from the prior trading session. Monday’s purchases in Coinbase, Circle, and Bullish were among the larger crypto-related buys the firm made that day.

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