Bitcoin volatility hits fresh lows as Ark Invest warms on crypto stocks

Quick Take

  • Bitcoin is trading at $19,285 and ether is changing hands for $1,343.
  • Bitcoin’s annualized volatility is currently around 27.18%, according to The Block’s data dashboard. 
  • Cathie Wood’s Ark Invest picked up shares in Coinbase, Block and Robinhood, according to the fund’s latest filings.

Bitcoin and ether edged lower over the past 24 hours, as the former's volatility hovers around its lowest level since July 2020. 

Price action has been relatively muted in crypto markets recently. Today, bitcoin was trading at $19,285 — down 0.8% over the day — while ether lost 0.6% in the same period to trade at $1,343, according to CoinGecko data. This stagnant price movement has seen bitcoin volatility reach fresh lows. 

Annualized bitcoin volatility is currently 27.06% — its lowest level since July 2020, when it fell as low as 23.37% — according to The Block's data dashboard. (Volatility, in this case, is defined as the standard deviation of the past 30 days' daily percentage change in the price of bitcoin.) 

Meanwhile, on Monday, AAVE and XTZ were added to Robinhood. Both rose on the news before surrendering those gains, with Aave's token dropping considerably over the past day. AAVE was trading at $82.06 at the time of writing, down 5.6% over the past 24 hours, while Tezos' coin was unchanged in the same period at $1.36, according to CoinGecko. 

Ark Invest adds more crypto-related stocks

Cathie Wood's Ark Invest bought shares in Coinbase, Block and Robinhood, according to its latest trade filing. 

Coinbase shares closed at $66.39 on Monday, while Block finished at $56.99 and Robinhood last traded at $10.21 — all marginally up on the day.

The Ark Next Generation Internet ETF added 4,917 Block shares, valuing the purchase at a little over $280,000, based on the price at the close. The fund also added 16,503 Robinhood shares, worth over $168,000. Block shares comprise 6.18% of the fund, while Robinhood accounts for just 3.31%, according to the firm's website.

Elsewhere, the Ark Fintech Innovation ETF bought 10,880 Coinbase shares worth around $722,000, 3,183 Block shares worth about $181,000 and 5,291 Robinhood shares for just over $50,000. Block now makes up 9.18% of the fund, Coinbase accounts for 8.12%, and Robinhood makes up 6.39%.

Ark ditched over 1.4 million Coinbase shares in July as the exchange's share price plummeted. Coinbase will announce its third-quarter earnings on November 8 — expectations are low, per the firm's second-quarter earnings call. Jack Dorsey's Block will release its third-quarter earnings on November 9, while Robinhood shares its earnings on November 2. 


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