ARK Invest Boosts Coinbase and Circle Holdings Ahead of CLARITY Act Vote

Cathie Wood's ARK Invest added more Coinbase Global (COIN) and Circle Internet Group (CRCL) stock to its portfolio on August 3, as the US Senate prepares to vote on the CLARITY Act. The firm purchased shares of COIN through a series of exchange-traded funds (ETFs), with the ARK Innovation ETF (ARKK) being the top buyer.

The ARKKK bought approximately $5.68 million worth of COIN, representing 38,761 shares, and also acquired an additional 11,133 units valued at around $1.63 million through the ARKW. The ARKF also purchased 4,882 COIN shares for about $715,213.

In total, Cathie Wood's ARK bought 54,776 shares of COIN worth around $8.02 million. Meanwhile, the firm acquired 17,910 CRCL shares through the ARKK, valued at approximately $1.08 million, and also purchased an additional 5,160 Circle Internet Group shares for almost $311,406 via the ARKW.

The total amount spent by ARK on both COIN and CRCL transactions was around $9.42 million. The CLARITY Act vote is still pending in the Senate, with lawmakers discussing its progress before breaking for recess. However, crypto analyst Ted Pillows warned that time is running short before the month-long recess.