ARK Invest Snaps Up Coinbase and Circle Amid Bullish Crypto Predictions

Cathie Wood's ARK Invest is buying up bargain-priced crypto stocks, including Coinbase and Circle. Wood is bullish on cryptocurrencies, predicting that Bitcoin will reach $1.25 million in five years and Ether to soar to $160,000-$180,000 within six years. However, these estimates are considered high by some.

Wood's fund has acquired nearly 2.6 million shares of Coinbase across its flagship ETFs, worth about $486 million or 4% of its combined holdings. The enterprise value of Coinbase is $43.5 billion, with the stock trading at just 17 times next year's adjusted EBITDA.

Circle, which mints USD Coin (USDC), a leading stablecoin in the U.S., has seen its stock decline by over 20% in the past year despite strengthening partnerships with financial giants like Visa and Mastercard. Analysts expect Circle's revenue to grow at a CAGR of 19% from 2025 to 2028.