ARK buys Coinbase, Circle, Bullish and Robinhood as stocks rally

Cathie Wood’s ARK Invest bought more shares of Coinbase, Circle Internet Group, Bullish and Robinhood on Monday as crypto-linked stocks moved higher. 

The trades came across ARK Innovation ETF, ARK Next Generation Internet ETF and ARK Blockchain & Fintech Innovation ETF.

ARK bought 45,164 Coinbase shares worth about $6.85 million at Monday’s closing price. It also purchased 81,757 Circle shares worth about $6.21 million, 149,422 Bullish shares worth about $3.54 million and 2,943 Robinhood shares worth about $299,685.

Coinbase and Circle lead the buying

Coinbase closed Monday up 1.74% at $151.65, while Circle rose 3.25% to $75.96. Bullish gained 1.72% to $23.69, and Robinhood climbed 3.18% to $101.83. Major U.S. stock indexes also closed higher during the session.

The largest purchase by value was Coinbase. ARK has held Coinbase across several funds and often adjusts its exposure when prices move. The firm also rebalances its ETFs so no single stock grows beyond 10% of any fund’s portfolio, according to The Block.

Circle expands BNY stablecoin partnership

Circle’s stock move came on the same day that BNY announced an expanded relationship with Circle. BNY said USDC will become the first stablecoin on its Digital Asset Custody platform, giving clients tools to store, transfer, mint and burn USDC.

BNY said the launch builds on its role as primary custodian of USDC reserves. Carolyn Weinberg, BNY’s chief product and innovation officer, said, “As digital assets become increasingly integrated into financial markets, institutions need infrastructure that seamlessly works across traditional and blockchain-based systems.”

Kash Razzaghi, Circle’s chief commercial officer, said, “BNY has always been where institutional finance moves first, and making USDC the first stablecoin included in their new offering reflects the regulatory rigor Circle has built into USDC from day one.”

Coinbase tokenized stock push adds context

Coinbase also remains in focus after launching tokenized U.S. stock products earlier this month. As reported by crypto.news, Coinbase launched 1:1-backed tokenized shares of SpaceX, Nvidia, Google, Strategy and Bitmine as part of its plan to build an “Everything Exchange.”

The product allows users to buy, hold, trade and redeem tokenized equity on-chain while receiving dividends linked to the underlying shares. Coinbase CEO Brian Armstrong said, “For the first time, these are real 1:1 backed tokenized stocks you can trust. You own an actual chunk of the company onchain,” as reported by crypto.news.

ARK’s Monday purchases extend a recent run of buying in crypto-linked equities. As previously reported by crypto.news, ARK bought about $25.54 million worth of Coinbase, SpaceX, Circle, Bullish and Robinhood shares last Friday. That followed another round of buying after Coinbase, Circle, Robinhood and Bullish had all closed lower the day before, as reported by crypto.news.

The new purchases show ARK adding exposure while crypto equities trade around fresh product and partnership news. Coinbase remains tied to tokenized equities, Circle to stablecoin infrastructure, Bullish to exchange activity and Robinhood to retail trading.