Ark Invest loads up on Coinbase, Circle, Bullish, Robinhood shares as stocks rally higher

Cathie Wood's Ark Invest purchased additional shares of Coinbase, Circle, Bullish, and Robinhood on Monday across three exchange-traded funds amid a stock rally.

Ark's trading disclosure for Monday shows the company bought 45,164 Coinbase (COIN) shares across its ARKK, ARKW, and ARKF ETFs, worth $6.85 million at the day's closing price. 

The firm also scooped up 81,757 shares of Circle Internet Group (CRCL), worth $6.21 million, and 149,422 shares in crypto exchange Bullish (BLSH), worth $3.54 million. Ark expanded its Robinhood (HOOD) holdings by 2,943 shares, valued at around $299,685.

All four stocks traded higher on Monday. Coinbase closed up 1.74% at $151.65, Circle added 3.25% to $75.96, while Bullish climbed 1.72% to $23.69. Robinhood's stock rose 3.18% to $101.83. The S&P 500 Index, Dow Jones Index, and the Nasdaq Composite all rose yesterday.

Ark Invest actively adjusts its ETF holdings to ensure no single stock exceeds 10% of any fund's portfolio, meaning that it rebalances weightings during periods of significant asset price fluctuations.

On Monday, Circle announced that it has expanded its partnership with the Bank of New York Mellon (BNY) to deliver full-lifecycle stablecoin capabilities to institutional clients. This means that the two will allow users to custody, transfer, mint, and burn USDC directly through BNY's digital custody wallets.

Meanwhile, Coinbase launched tokenized U.S. stocks on the platform earlier this month. Benchmark Equity Research maintained its "Buy" rating on Coinbase earlier this month, citing the launch of tokenized U.S. equities and reiterating a $270 price target for the crypto exchange.