ARK Invest Dives into Crypto with $9.4M Coinbase and Circle Buys

ARK Invest, led by Cathie Wood, has significantly increased its exposure to the cryptocurrency market by purchasing $9.4 million worth of Coinbase and Circle shares on August 3.

The purchases were made through three exchange-traded funds: ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Fintech Innovation ETF.

ARK Invest acquired a total of 54,776 Coinbase shares valued at approximately $8.02 million, with the largest portion purchased by the ARK Innovation ETF.

The firm also bought 23,070 Circle shares worth roughly $1.39 million through two of its funds: the ARK Innovation ETF and the ARK Next Generation Internet ETF.