ARK Invest Buys $9.4M in Coinbase and Circle Stock Amid CLARITY Act Uncertainty

ARK Invest, a prominent investment firm led by Cathie Wood, has made significant purchases in Coinbase and Circle stocks. On August 3, ARK bought approximately $9.4 million worth of shares across three exchange-traded funds (ETFs).

The largest purchase was in the ARK Innovation ETF, which acquired 38,761 Coinbase shares valued at around $5.68 million. The other two ETFs, Next Generation Internet and Fintech Innovation, purchased 11,133 and 4,882 shares respectively.

ARK's total Circle purchases reached 23,070 shares, valued at roughly $1.39 million. These transactions expand ARK's exposure to major cryptocurrency players during a period of market pressure.

Coinbase has shown some recovery, reaching $149.12 on August 4 after testing the $139.25 support level. However, it remains below its 78.6% Fibonacci retracement level at $156.99 and faces technical resistance.