Cathie Wood’s fund purchased over 145,000 shares of $COIN and $CRCL as prices declined, trimming other holdings to rebalance.
ARK Invest’s ARK Innovation ETF added 30,763 shares of Coinbase ($COIN) and 114,223 shares of Circle ($CRCL) over two sessions, capitalizing on a sharp drop in crypto-linked equities. The purchases followed a 7% decline in Coinbase and an 11% drop in Circle’s stock price on Friday.
The fund also increased its position in Alibaba ($BABA) by 245,342 shares, while reducing holdings in Archer Aviation and Baidu. The moves align with ARK’s strategy of buying high-conviction growth stocks during volatility.
Retail sentiment around $COIN and $CRCL remained bearish, with limited chatter around Circle, according to trade disclosures.