ARK Invest buys crypto stocks on the dip

[cryptoenthusiast]

Cathie Wood’s ARK Invest increased its exposure to crypto-linked equities as prices slid across the sector, adding shares of Coinbase, Circle and Bullish on Friday.

According to ARK’s daily trade disclosures, the ARK Innovation ETF (ARKK) purchased 38,854 shares of Coinbase, while the ARK Fintech Innovation ETF (ARKF) added another 3,325 shares. The combined purchase totaled roughly $9.4 million. Coinbase shares closed down 2.77% on the day at $216.95.

ARK also added 129,446 shares of Circle Internet Group across ARKK and ARKF, a position worth about $9.2 million, and bought 88,533 shares of Bullish valued at approximately $3.2 million. Circle shares were little changed, while Bullish declined 2% to close at $35.75.

[johnblockbuster]

$9.4 million on coinbase alone? that’s a lot of trust in crypto stocks considering how shaky everything’s been lately