Cathie Wood’s Ark Invest has increased its exposure to several major crypto-related stocks, including Coinbase, Circle, Bullish and Robinhood.
The latest purchases suggest that the investment firm remains confident in the long-term potential of the cryptocurrency industry, despite ongoing volatility across digital asset markets.
Ark Invest Expands Its Crypto Stock Holdings
According to Ark Invest’s latest trading disclosure, the firm purchased shares across three of its exchange-traded funds: ARKK, ARKW and ARKF.
Coinbase received the largest investment. Ark acquired 45,164 COIN shares, valued at approximately $6.85 million based on Monday’s closing price.
The company also purchased 81,757 shares of Circle Internet Group. The investment was worth roughly $6.21 million.
In addition, Ark Invest bought 149,422 shares of crypto exchange Bullish, representing a position valued at around $3.54 million.
The firm also slightly expanded its Robinhood holdings by adding 2,943 HOOD shares worth approximately $300,000.
Ark Maintains a Bullish Crypto Outlook
The latest buying activity shows that Ark Invest continues to take a positive view of crypto-related companies.
Digital assets have recently faced significant selling pressure. However, Cathie Wood’s firm appears to see the market weakness as an opportunity to increase its exposure to leading crypto businesses.
The latest transactions follow similar purchases made the previous week, when Ark also added shares of Coinbase, Circle, Bullish and Robinhood.
This repeated buying suggests that the investment manager remains optimistic about the future growth of cryptocurrency trading, stablecoins and digital finance platforms.
COIN, CRCL, BLSH and HOOD Stocks Rise
Ark Invest’s purchases came as all four crypto stocks finished Monday’s trading session higher.
Coinbase shares closed at $151.65, representing a gain of 1.74% from the previous session.
Circle stock climbed 3.25% to close at $75.96. Meanwhile, Bullish shares increased by 1.72% and ended the session at $23.69.
Robinhood recorded the strongest performance of the group. HOOD stock gained more than 3% and closed at $101.83.
The gains indicate that investors remain interested in companies connected to the cryptocurrency and digital asset markets.
Goldman Sachs Raises Its Robinhood Price Target
Robinhood has also received support from Goldman Sachs.
The investment bank recently increased its price target for HOOD stock to $121 while maintaining a Buy rating.
Goldman Sachs cited Robinhood’s strong trading activity during June as one of the main reasons behind its positive outlook.
Combined with Ark Invest’s latest purchase, the higher price target could further support investor confidence in Robinhood and the broader crypto stock sector.
