ARK Invest buys $17M in Coinbase and Circle shares, sells Bullish

ARK Invest buys — Cathie Wood’s ARK Invest purchased approximately $17 million worth of shares in Coinbase and Circle while selling a stake in Bullish, as major crypto-related stocks declined.

ARK’s funds bought an estimated $9 million in Coinbase (COIN) shares and $8 million in Circle (CRCL) shares across Friday and Monday trading sessions. The firm sold roughly $8 million worth of shares in crypto exchange operator Bullish (BLSH).

All three stocks closed lower on Monday. Coinbase fell nearly 4% to $137.83, Circle slipped 0.63% to $72.08, and Bullish dropped 5.7% to $22.54. ARK also purchased about $646,000 in Robinhood shares, which fell 1.4%.

According to ARK’s holdings disclosures, Circle ranked among the top five holdings in three of its ETFs as of Tuesday. The purchases and sales were executed across ARK’s Next Generation Internet ETF (ARKW), Fintech Innovation ETF (ARKF), and Innovation ETF (ARKK).