Cathie Wood’s ARK Snaps Up $25M In SpaceX, Coinbase, Circle Robinhood, Bullish Stocks
Highlights
- Cathie Wood's ARK Invest bought additional shares of Coinbase, SpaceX, Robinhood, Circle, and Bullish.
- All these stocks recorded a rally amid the latest purchase.
- The total value of new investments into these crypto and AI stocks exceeded $25 million.
On Friday, June 26, Cathie Wood’s ARK Invest upped its stake in a number of crypto-related and private market companies. It snapping up nearly $25.54 million in Coinbase, Robinhood, Circle, SpaceX and Bullish shares via various exchange-traded funds.
Cathie Wood’s ARK Invest Buys COIN, HOOD SPCX, BLSH, CRCL Stocks
The biggest acquisition by quantity was Coinbase, which ARK acquired a total of 68,366 shares, per latest disclosure. The purchase was made via the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF). The total value of the purchases was around $10.19 million based on Coinbase stock closing price on Friday, $149.06.
ARK also enhanced its stake in SpaceX stock, which was up 45,728 shares in the four stocks it owns: ARKK, ARKQ, ARKW and ARKX. The investment was worth approximately $7.01 million at the closing price of $153.23.
At the same time, the asset manager bought 78,756 shares of Circle Internet Group in ARKK, ARKW and ARKF. The purchases totaled around $5.79 million based on Circle’s closing price of $73.57.
ARK also acquired 57,511 shares of Bullish valued at approximately $1.34 million, and 12,269 shares of Robinhood valued at approximately $1.21 million, using a closing price of $23.29 and $98.69 per share, respectively.
The five acquisitions totaled about $25.54 million. It reflects Cathie Wood’s ongoing belief in firms with digital assets ties and financial technology and AI innovation.
Recent Acquisitions In Crypto & AI Market
The recent purchase comes after Cathie Wood’s ARK made a number of bullish crypto investments. The firm earlier this week bought approximately 35,023 shares in Robinhood at $3.27 million, 9,014 shares in Coinbase at $1.28 million and 3,164 shares of Circle at $217,700.
This week, ARK also bought an additional 111,799 shares of Coinbase for approximately $18 million. The company is also boosted stake in SpaceX earlier this week. At the time, it bought $32.5 million worth of SPCX stock via the combined purchase of 210,121 shares across four ETFs.
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