Ark Invest Buys $17M in Coinbase, Circle, Bullish, Robinhood Shares

Ark Invest purchased shares of Coinbase, Circle, Bullish, and Robinhood on Monday across three exchange-traded funds. The firm bought 45,164 Coinbase shares worth $6.85 million, 81,757 Circle shares worth $6.21 million, 149,422 Bullish shares worth $3.54 million, and 2,943 Robinhood shares valued at $299,685, according to Ark's trading disclosure. The purchases occurred during a stock rally, with all four equities closing higher on Monday alongside gains in the S&P 500, Dow Jones, and Nasdaq Composite indices.

Ark Invest Purchases $17 Million in Crypto-Related Stocks

Ark Invest's Monday trades spanned its ARKK, ARKW, and ARKF exchange-traded funds. Coinbase (COIN) closed up 1.74% at $151.65, Circle (CRCL) added 3.25% to $75.96, Bullish (BLSH) climbed 1.72% to $23.69, and Robinhood (HOOD) rose 3.18% to $101.83. Ark Invest actively adjusts its ETF holdings to ensure no single stock exceeds 10% of any fund's portfolio, rebalancing weightings during periods of significant asset price fluctuations.

Circle Expands BNY Partnership for USDC Capabilities

On Monday, Circle announced it expanded its partnership with the Bank of New York Mellon (BNY) to deliver full-lifecycle stablecoin capabilities to institutional clients. The partnership allows users to custody, transfer, mint, and burn USDC directly through BNY's digital custody wallets.

Coinbase Receives $270 Price Target from Benchmark

Coinbase launched tokenized U.S. stocks on the platform earlier this month. Benchmark Equity Research maintained its "Buy" rating on Coinbase earlier this month, citing the launch of tokenized U.S. equities and reiterating a $270 price target for the crypto exchange.

FAQ

What stocks did Ark Invest purchase on Monday? Ark Invest bought shares in Coinbase (45,164 shares worth $6.85 million), Circle (81,757 shares worth $6.21 million), Bullish (149,422 shares worth $3.54 million), and Robinhood (2,943 shares valued at $299,685) across its ARKK, ARKW, and ARKF exchange-traded funds.

What did Circle announce on Monday? Circle announced an expanded partnership with the Bank of New York Mellon to deliver full-lifecycle stablecoin capabilities to institutional clients, allowing users to custody, transfer, mint, and burn USDC directly through BNY's digital custody wallets.

What is Benchmark's price target for Coinbase? Benchmark Equity Research maintained its "Buy" rating on Coinbase earlier this month with a $270 price target, citing the launch of tokenized U.S. equities on the platform.