Cathie Wood's Ark Invest significantly increased its positions in several crypto-linked equities on Monday, a day when the broader stock market advanced and the underlying companies announced notable developments. The purchases, executed across three of Ark's exchange-traded funds—ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Blockchain & Fintech Innovation ETF (ARKF)—totaled nearly $16.9 million.
The biggest allocation went to Coinbase (COIN), with Ark acquiring 45,164 shares valued at approximately $6.85 million based on Monday's closing price. The firm also bought 81,757 shares of Circle Internet Group (CRCL) for about $6.21 million, 149,422 shares of crypto exchange Bullish (BLSH) for $3.54 million, and 2,943 shares of Robinhood (HOOD) worth around $299,685. All four stocks posted gains during the session: Coinbase rose 1.74% to $151.65, Circle gained 3.25% to $75.96, Bullish added 1.72% to $23.69, and Robinhood climbed 3.18% to $101.83. The S&P 500, Dow Jones, and Nasdaq Composite indexes also closed higher.
The trades align with Ark Invest's strategy of actively rebalancing its portfolios to prevent any single holding from exceeding 10% of a fund's assets, a practice that often leads to buying during price dips or adding to positions as sentiment improves. The latest moves extend a buying spree; last Friday alone, Ark purchased roughly $25.54 million worth of the same four stocks. The renewed accumulation comes against a backdrop of fresh catalysts for the companies.
Circle announced an expanded partnership with Bank of New York Mellon (BNY) to deliver full-lifecycle stablecoin services to institutional clients. Through BNY's digital custody platform, users will be able to custody, transfer, mint, and burn USDC directly, making USDC the first stablecoin integrated into BNY's Digital Asset Custody platform. BNY already serves as the primary custodian of USDC reserves.
Coinbase recently launched tokenized U.S. equities, enabling users to buy, hold, trade, and redeem 1:1-backed on-chain shares of companies like SpaceX, Nvidia, and Google. Benchmark Equity Research maintained a “Buy” rating on Coinbase earlier this month, citing the tokenized equity launch and reiterating a $270 price target.
