ARK Invest added to Coinbase (NASDAQ: $COIN) and Circle (NYSE: $CRCL) across two sessions, using a sharp pullback in crypto-linked equities to increase exposure to two of the sector’s most visible public-market names.
Cathie Wood’s flagship ARK Innovation ETF bought 30,763 Coinbase shares across Thursday and Friday, according to trade disclosures cited by Stocktwits. The fund also purchased 114,223 shares of Circle Internet Group over the same period, with the larger Circle buy coming Friday after the stablecoin issuer’s stock closed down more than 11%.
The buying comes after a difficult session for both companies. Coinbase closed down more than 7% on Friday and slipped another 0.52% after hours, while Circle was roughly flat after hours following its double-digit decline. Stocktwits data showed retail sentiment around both names remained bearish, with normal chatter around Coinbase and low chatter around Circle.
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Cathie Wood’s flagship ARK Innovation ETF bought 30,763 Coinbase shares across Thursday and Friday, according to trade disclosures cited by Stocktwits. The fund also purchased 114,223 shares of Circle Internet Group over the same period, with the larger Circle buy coming Friday after the stablecoin issuer’s stock closed down more than 11%.
The buying comes after a difficult session for both companies. Coinbase closed down more than 7% on Friday and slipped another 0.52% after hours, while Circle was roughly flat after hours following its double-digit decline. Stocktwits data showed retail sentiment around both names remained bearish, with normal chatter around Coinbase and low chatter around Circle.
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