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International Business Times UK

Niloy Chakrabarti

ARK Invest Boosts Crypto Stake as Cathie Wood Reiterates Long-Term Bullish View Despite Sector Pullback

Ark Invest ARK Bitcoin Crypto Bullish Donald Trump COIN Dimon Circle Internet Group Coinbase

Wood's Ark Invest purchased crypto stocks despite ongoing market volatility. (Credit: Caroline Wood Wikipedia)

Cathie Wood's ARK Invest boosted its stake in crypto stocks despite faltering confidence in the cryptocurrency industry. ARK Invest purchased shares of crypto exchange Coinbase (Nasdaq:COIN), USDC stablecoin issuer Circle Internet Group (NYSE:CRCL), and crypto exchange Bullish (NYSE:BLSH) in its latest trades disclosed late last week.

The ARK Innovation ETF and the ARK Fintech Innovation ETF collectively purchased 38,854 shares of Coinbase, valued at over $9 million (£6.5 million). ARK Invest also bought 129,446 shares of Circle Internet Group across the two ETFs for $9.2 million (£6.7 million), as well as 88,533 shares of Bullish. Wood's trades came as these stocks fell in recent trading, extending recent weakness in the sector.

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