ARK Invest Boosts Holdings in Coinbase and Circle Amid Clarity Act Vote Looming
Cathie Wood's ARK Invest continued to show confidence in Coinbase and Circle stock by increasing its holdings through various exchange-traded funds (ETFs) on August 3. The move comes as the U.S. Senate is preparing to take a major step towards passing the CLARITY Act, which aims to regulate the cryptocurrency market.
The ARK Innovation ETF (ARKK) led the buying spree for Coinbase Global with 38,761 shares valued at approximately $5.68 million, while the ARK Next Generation Internet ETF (ARKW) acquired about $1.63 million worth of COIN shares, representing 11,133 units.
Circle stock closed at $60.35 on August 3, declining by 3.61% for the day. In contrast, Cathie Wood's ARK Invest added more holdings in Circle Internet Group via a slew of ETFs, with the ARK Innovation ETF (ARKK) buying 17,910 CRCL shares valued at approximately $1.08 million.
The total amount spent by ARK Invest for both Coinbase and Circle transactions is around $9.42 million at Monday's closing prices.