Ark Invest is strengthening its positions in the crypto market by taking advantage of the price correction. The firm executed purchases of $13.5 million in Block, $7.6 million in Circle, and $3.86 million in Coinbase as digital asset–linked stocks extended their declines.
Coinbase is the fourth-largest holding in the ARKK fund, valued at $391 million and accounting for 5.22% of the portfolio. The ETF also holds $179 million in Circle and $85.2 million in Block. The firm complemented these additions with $1.52 million in Bullish, $878,794 in Robinhood, and $2.8 million in its bitcoin ETF.
The company’s activity comes during a difficult month for crypto-related stocks. Block has fallen 20.54% over the past 30 days, Circle has dropped 51%, and Coinbase is down 30%, while Bitcoin trades near $88,000 after pulling back from its $126,000 all-time high reached six weeks ago. Ark views this environment as an entry window and is executing a strategy that prioritizes deploying capital into companies and funds with exposure to the crypto market.
Source: https://www.ark-funds.com/funds/arkk
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