ARK Invest loads up on Coinbase, Block, and Circle stock amid sector dip

ARK Invest added to positions in Coinbase Global, Block and Circle Internet Group across multiple exchange-traded funds in recent sessions, according to trade filings.

Most of the buying ran through the ARK Innovation ETF, where Coinbase ranks among the largest holdings. Circle and Block also appear as sizable positions in the fund. ARK increased exposure to other crypto-linked names, adding Bullish and Robinhood Markets, and bought units of its ARK-21Shares spot bitcoin ETF.

The activity came during a broad pullback in digital-asset markets. Bitcoin trades well below the record set about six weeks ago, with light volumes persisting. Shares tied to the sector have been negative for the month.

Performance among individual names has varied day to day. Block finished higher on the session of ARK’s purchases but remains down month to date. Circle fell on the day and has declined sharply over the past month. Coinbase slipped and is lower for the month as well.

Filings indicate ARK has been adding to crypto-related equities in recent weeks as valuations eased, spreading the purchases across several ETFs. The documents did not include the size of the buys or average prices.

As GNcrypto covered previously, ARK Invest bought over $39 million of Bullish, Circle Internet Group and BitMine Immersion Technologies across its ARK Innovation (ARKK), ARK Next Generation Internet (ARKW) and ARK Fintech Innovation (ARKF) ETFs during a pullback in crypto-related shares, according to its daily trade disclosure. That session saw Bullish close down 3.63% at $36.39 before rebounding after hours, Circle fall nearly 9% to $69.72, and BitMine drop 9.5% to $29.18 with a subsequent after-hours recovery of more than 6%.