US investment firm Ark Invest, led by Cathie Wood, continues to expand its crypto portfolio by purchasing more shares of Coinbase and Bullish. On Tuesday, Ark bought 28,315 Coinbase shares worth $7.5 million and 42,434 Bullish shares worth $1.8 million through the ARK Innovation ETF (ARKK). The previous week, the company bought 62,166 Coinbase shares across several ETFs.
Coinbase now accounts for 5.58% of ARKK’s portfolio, becoming the fund’s second-largest holding. Ark also added 1,951 Robinhood shares and bought more shares of the ARK 21Shares Bitcoin ETF (ARKB). Despite market volatility, Ark sees opportunities as Bitcoin rebounds above $93,000. Cathie Wood emphasized that liquidity constraints in the crypto and AI sectors are temporary and expected to recover. Other crypto investments include Circle Internet Group and BitMine, reflecting a strategy to increase exposure to leading crypto companies.
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