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

Cathie Wood’s Ark Invest has once again increased its exposure to crypto stocks, acquiring shares of Coinbase (COIN), Circle (CRCL), Bullish (BLSH), and Robinhood (HOOD) on Monday. The purchases were spread across three of the firm’s exchange-traded funds: ARKK, ARKW, and ARKF.

The largest investment went to Coinbase, with Ark buying 45,164 shares valued at approximately $6.85 million based on Monday’s closing price. The firm also scooped up 81,757 shares of Circle Internet Group, worth nearly $6.21 million, and 149,422 shares of the crypto exchange Bullish, representing an investment of about $3.54 million. Additionally, Ark slightly increased its Robinhood position by purchasing 2,943 HOOD shares worth roughly $300,000.

This latest buying spree follows a similar move last week, underscoring Ark’s bullish stance on the crypto sector even as digital assets face ongoing selling pressure. All four stocks ended Monday’s trading session in the green. Coinbase closed at $151.65, up 1.74%; Circle at $75.96, up 3.25%; Bullish at $23.69, up 1.72%; and Robinhood at $101.83, up over 3%.

The positive performance of Robinhood shares comes amid a price target upgrade from Goldman Sachs, which raised its target to $121 with a “buy” rating, citing strong trading activity in June.

Ark Invest’s continued accumulation of crypto-related stocks suggests confidence in the long-term growth of the digital asset ecosystem, despite near-term market turbulence.

Source: https://coingape.com/cathie-woods-ark-invest-bets-again-on-coin-crcl-blsh-crypto-stocks/