Ark Invest buys Coinbase and Circle stocks before Clarity Act vote
Ark Invest has been buying cryptocurrency names such as Coinbase Global and Circle Internet Group ahead of a potential US Senate vote on the Clarity Act.
The company’s 2025 Big Ideas report sets a 2030 base-case price target for Bitcoin of $700,000, with a bull case of $1.5 million.
Ark Invest’s ARK Innovation ETF purchased 66,754 shares of Circle and 37,153 shares of Coinbase, possibly betting on the Senate passing the Clarity Act, a broad regulation bill that crypto advocates see as a game changer.
The bill seeks to create a framework for crypto regulation in the US, including a legal definition of a mature blockchain, which could benefit crypto companies like Coinbase and Circle.