Amidst a downturn in the cryptocurrency market, ARK Invest has bolstered its holdings in crypto-related stocks, acquiring significant shares of Coinbase, Circle, and Bullish. On Friday, the ARK Innovation ETF (ARKK) added 38,854 shares of Coinbase, while the ARK Fintech Innovation ETF (ARKF) purchased an additional 3,325 shares, collectively valued at approximately $9.4 million. Coinbase's share price closed at $216.95, down 2.77% for the day.
In total, ARK invested around $9.2 million in Circle Internet Group, acquiring 129,446 shares across both ETFs. The firm also added 88,533 shares of Bullish, valued at about $3.2 million, despite Bullish shares declining by 2% to close at $35.75. Alongside these crypto investments, ARK reduced its stake in Meta Platforms, selling 12,400 shares for roughly $8.03 million.
ARK's exposure to these assets comes as the firm anticipates that the digital asset market could reach $28 trillion by 2030, primarily due to increasing adoption of Bitcoin and expected price growth, according to their Big Ideas 2026 report.