ARK Invest added shares of Coinbase and stablecoin issuer Circle across three of its exchange-traded funds on Friday and Monday, while reducing its position in crypto exchange operator Bullish. The transactions took place as all three stocks ended Monday lower.
Based on ARK’s daily trade disclosures and closing prices, the purchases amounted to an estimated $9 million in Coinbase shares and $8 million in Circle shares. The funds bought 64,208 Coinbase shares and 110,551 Circle shares, while selling 342,545 Bullish shares worth approximately $8 million.
On Monday, Coinbase fell 3.98% to $137.83, Circle slipped 0.63% to $72.08 and Bullish dropped 5.7% to $22.54. ARK also bought about $646,000 in Robinhood shares that day; the stock declined 1.4% to $83.80.
Circle was among the top five holdings in three ARK ETFs as of Tuesday. It represented $270.3 million, or 4.6%, of ARKK; $71.4 million, or 4.4%, of ARKW; and $42.6 million, or 5.9%, of ARKF.
Sources: Cointelegraph.