Cathie Wood’s Ark Invest Bets Again on COIN, CRCL, & BLSH Crypto Stocks

1 hrs ago

By Rupam Roy

News Writer & Journalist

Expertise : Crypto, Blockchain, Web3, Artificial Intelligence (AI), Global News, Stock Market

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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Cathie Wood's Ark Invest Bets Again on COIN, CRCL, & BLSH Crypto Stocks

Highlights

Ark Invest bets on crypto stocks, including COIN, CRCL, BLSH, and HOOD across three ETFs.
Coinbase (COIN) received Ark's largest investment, totaling approximately $6.85 million.
The latest purchases suggest Ark Invest's bullish stance despite crypto market volatility.

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Cathie Wood’s Ark Invest has once again put its bet on crypto stocks, which has caught the eyes of market participants. As per the latest reports, the firm has scooped up shares of Coinbase (COIN), Circle (CRCL), Bullish (BLSH), and Robinhood (HOOD) on Monday.

Meanwhile, the latest buying spree signals Ark’s continued optimism toward the crypto space despite ongoing market volatility. Besides, it also follows another notable investment made just last week into crypto stocks.

Cathie Wood’s Ark Invest Bets on Crypto Stocks

Ark Invest added fresh positions across several crypto stocks on Monday, extending its bullish stance on the sector. According to the firm’s latest trading disclosure, the purchases were spread across three of its exchange-traded funds (ETFs), including ARKK, ARKW, and ARKF.

The investment manager acquired 45,164 shares of Coinbase, valued at approximately $6.85 million based on Monday’s closing price. Alongside Coinbase, Ark Invest also scooped up 81,757 shares of Circle Internet Group, worth nearly $6.21 million.

In addition, it also added 149,422 shares of crypto exchange Bullish, representing an investment of about $3.54 million. Apart from this, Ark Invest also slightly increased its Robinhood position by purchasing 2,943 HOOD shares, valued at roughly $300,000.

Meanwhile, the latest bet suggests that the firm remains bullish on the crypto stocks, even though the digital assets have faced immense selling pressure lately. Notably, Ark Invest also made a significant bet on Coinbase (COIN), Bullish (BLSH), Circle (CRCL), and Robinhood (HOOD) last week.

COIN, CRCL, HOOD, & BLSH Stocks Rally

The bet from Ark Invest comes as all four of these crypto stocks ended Monday’s session in the green. The Coinbase (COIN) stock closed at $151.65, up 1.74% from its previous close on Monday.

Coinbase Crypto Stock Price — Source: Yahoo Finance

Simultaneously, Circle stock closed with a 3.25% gain to $75.96, while the Bullish stock added 1.72% to $23.69 at the closing bell. The Robinhood stock also surged more than 3% on Monday and closed at $101.83, indicating robust interest from market participants.

Robinhood HOOD Crypto Stock — Source: Yahoo Finance

It’s worth noting that the recent surge in HOOD stock also comes as Goldman Sachs has recently raised its price target for the crypto stock to $121. The analysis also covered HOOD stock with a “buy” rating, citing its robust trading activity in June.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.