Cathie Wood’s Ark ETF Crypto Stocks: COIN, HOOD, & CRCL Lead Holdings
Highlights
- Ark ETF increases crypto stocks exposure despite the broader market downturn and volatility.
- Tesla remains the top holding, while crypto firms gain notable portfolio weight.
- Robinhood, Coinbase, and Circle lead the crypto portfolio of Ark Invest.
The crypto stocks are in focus amid the recent stock market retreat and the upcoming SpaceX IPO buzz. Notably, a recent report from The Kobeissi Letter showed that the S&P 500 has lost around $3 trillion in market cap since its June 2 high, indicating the heavy selling pressure in the market.
Amid this, Ark Invest, led by Cathie Wood, has revealed the current composition of its flagship Ark Innovation ETF (ARKK). It revealed a portfolio heavily tilted toward high-growth technology names with a notable concentration in crypto stocks and digital finance platforms.
Crypto Stocks in Cathie Wood’s Ark ETF
The Ark Innovation ETF (ARKK) is comprised of a mix of AI, genomics, cloud computing, and crypto stocks. Notably, the leading EV firm, Tesla, leads the table, accounting for around 10.22% of its total portfolio.
Meanwhile, there is a flurry of crypto stocks as well in the portfolio, which are gaining notable traction. Besides, the heavy bets in the crypto stocks, despite a dip in the digital assets space, have further bolstered market sentiment.
According to the latest disclosure, Robinhood (HOOD) stock leads the crypto stocks list, reserving 4.75% of the total portfolio. USDC-issuer Circle (CRCL) and the leading crypto exchange Coinbase (COIN) are also among the winners in the list.
In addition, Cathie Wood’s Ark Invest has also made significant bets in Bullish (BLSH) and the Ethereum treasury firm Bitmine (BMNR). It’s worth noting that BMNR stock was in the discussions recently, especially with its continued bets on Ethereum.
Robinhood (HOOD) Leads Crypto Stocks Gain
The disclosure by Ark Invest comes amid a time when Robinhood (HOOD) is making a strong run to the north. At the time of writing, HOOD stock was over 4% and held above the $87 mark. Notably, the rally comes as Goldman Sachs has recently raised the price target for Robinhood stock.
On the other hand, other crypto stocks like Coinbase, CRCL, BMNR, and others have stayed in the red. The dip could be attributed to the negative sentiment hovering in the broader crypto market today.
In addition, the US-Iran war discussions have also intensified, which has further dampened the market optimism over a potential recovery ahead. Besides, the higher US CPI inflation data has also weighed on the investors’ sentiment.
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