Cathie Wood’s Ark Invest has once again placed its bet on cryptocurrency stocks, catching the attention of market participants. According to the latest reports, the company acquired shares of Coinbase (COIN), Circle (CRCL), Bullish (BLSH), and Robinhood (HOOD) on Monday.
Meanwhile, the recent buying spree indicates Ark’s continued optimism towards the cryptocurrency space despite the ongoing market volatility. Moreover, it also follows another notable investment made last week in cryptocurrency stocks.
Cathie Wood’s Ark Invest is betting on cryptocurrency stocks
Ark Invest added new positions across several cryptocurrency stocks on Monday, expanding its bullish stance in the sector. According to the latest company news Trading disclosureThe purchases were spread across three exchange-traded funds (ETFs), including ARKK, ARKW, and ARKF.
The investment manager acquired 45,164 Coinbase shares, worth approximately $6.85 million based on Monday’s closing price. Along with Coinbase, Ark Invest also acquired 81,757 shares in Circle Internet Group, worth approximately $6.21 million.
In addition, it also added 149,422 shares in the Bullish cryptocurrency exchange, representing an investment of approximately $3.54 million. Aside from this, Ark Invest also slightly increased its position in Robinhood by purchasing 2,943 shares of HOOD stock, worth approximately $300,000.
Meanwhile, the latest bet suggests that the company remains bullish on cryptocurrency stocks, even though the digital asset has faced massive selling pressure recently. It is worth noting, Ark Invest also made a big bet On Coinbase (COIN), Bullish (BLSH), Circle (CRCL), and Robinhood (HOOD) last week.
Coin stocks, CRCL, HOOD and BLSH rise
The bet comes from Ark Invest as all four cryptocurrency stocks ended Monday’s session in the green. Coinbase (COIN) stock closed at $151.65, up 1.74% from its previous close on Monday.
Meanwhile, Circle stock closed with a 3.25% gain to $75.96, while the stock added 1.72% to $23.69 at the closing bell. Robinhood stock also rose more than 3% on Monday and closed at $101.83, indicating strong interest from market participants.
It’s worth noting that the recent rise in HOOD stock comes as well Goldman Sachs recently raised its price target Crypto stock to $121. The analysis also covered HOOD stock with a “buy” rating, citing strong trading activity in June.
