ARK adds an estimated $17M in Coinbase, Circle shares, trims Bullish
In brief
- ARK bought 64,208 Coinbase and 110,551 Circle shares across three ETFs on Friday and Monday.
- Cointelegraph estimates the buys at $9 million in COIN and $8 million in CRCL.
- ARK's ETFs sold 342,545 Bullish shares, worth roughly $8 million.
- Coinbase, Circle and Bullish all closed lower on Monday.
- Circle ranked among the top five holdings in three ARK ETFs as of Tuesday.
What ARK bought and sold
ARK's daily trade disclosures, as reported by Cointelegraph, show the purchases totaled 64,208 Coinbase shares and 110,551 Circle shares across three of the firm's exchange-traded funds. ARK didn't publish the dollar figures itself (they're Cointelegraph's estimates, built from Yahoo Finance closing prices).
That's the buy side.
The sell side is Bullish. ARK's ETFs sold 342,545 shares of Bullish (BLSH), a stake Cointelegraph valued at approximately $8 million, which puts the sale at about the same size as the estimated Circle purchase. There was a smaller trade, too. ARK bought around $646,000 in Robinhood shares on Monday, again by Cointelegraph's estimate.
A down day for crypto stocks
Coinbase, Circle and Bullish all closed lower on Monday. Coinbase fell 3.98% to $137.83, according to Yahoo Finance closing prices cited by Cointelegraph. Circle slipped 0.63% to $72.08.
Bullish took the biggest hit of the three, dropping 5.7% to $22.54. Robinhood's stock fell too; it slid 1.4% to $83.80, per Yahoo Finance.
Circle's weight inside ARK's ETFs
Circle already sits near the top of ARK's books. As of Tuesday, it ranked among the top five holdings in three ARK ETFs, according to ARK's holdings disclosures cited by Cointelegraph. The stablecoin issuer accounted for $270.3 million (4.6%) of ARKK, $71.4 million (4.4%) of ARKW and $42.6 million (5.9%) of ARKF.
ARKF carries the heaviest weighting of the three, at 5.9%. In dollar terms, though, the ARKK position is the largest by a wide margin (it's more than three times the size of the ARKW stake).
