On Thursday, Cathie Wood’s ARK Invest increased its stake in a number of private market and cryptocurrency-related companies, acquiring approximately $25.54 million in shares of Coinbase, Robinhood, Circle, SpaceX and Bullish in various exchange-traded funds, as announced in the company’s trading disclosure.
Cathie Wood’s ARK Invest buys shares of COIN, HOOD SPCX, BLSH and CRCL
The largest acquisition by quantity was Coinbase, with ARK acquiring a total of 68,366 shares, at least Reveal. The purchase was made via ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF). The total value of purchases amounted to approximately $10.19 million on a basis Coinbase stock Friday closing price $149.06.
ARK also increased its stake in SpaceX shares, which amounted to 45,728 shares in the four stocks it owns: ARKK, ARKQ, ARKW, and ARKX. The investment was valued at approximately $7.01 million at a closing price of $153.23.
Meanwhile, the asset manager bought 78,756 Circle Internet Group shares in ARKK, ARKW and ARKF. Purchases totaled approximately $5.79 million based on Circle’s closing price of $73.57.
ARK also gained 57,511 shares of Bullish worth approximately $1.34 million, and 12,269 shares of Robinhood worth approximately $1.21 million, using a closing price of $23.29 and $98.69 per share, respectively.
The five acquisitions totaled approximately $25.54 million. It reflects Cathie Wood’s continued belief in companies with connections to digital assets, fintech and AI innovation.
Recent acquisitions in the cryptocurrency and artificial intelligence market
The latest purchase comes after Cathie Wood’s ARK made a number of bullish investments in cryptocurrencies. Earlier this week, the company purchased approximately 35,023 shares of Robinhood at a price of $3.27 million, 9,014 shares of Coinbase at a price of $1.28 million, and 3,164 shares of Circle at a price of $217,700.
This week, it also bought ARK 111,799 additional Coinbase shares For about $18 million. The company also boosted its stake in SpaceX earlier this week. At that time, it was purchased $32.5 million in SPCX shares Through the joint purchase of 210,121 shares across four ETFs.
