Cathie Wood's ARK Invest Buys Coinbase And Circle Across Two Sessions, Loads Up On Alibaba And Meta

Cathie Wood said recent on-chain indicators suggest bearish sentiment toward Bitcoin has reached extreme levels.

• ARK Invest increased its positions in Coinbase and Circle across two consecutive trading sessions, buying 30,763 Coinbase shares and 114,223 Circle shares in total.
• Alibaba was ARKK's largest purchase by share count during the period, with the fund adding 245,342 shares.
• ARKK offloaded a combined 784,380 shares of Archer Aviation and sold 457,754 shares of Baidu.

Cathie Wood's  ARK Invest increased its positions in Coinbase Global (COIN) and stablecoin issuer Circle Internet Group (CRCL) across two consecutive trading sessions, while also making sizable purchases of Alibaba Group Holding (BABA) and Meta Platforms (META).

According to the firm's trade disclosures, ARK Invest's flagship ARK Innovation ETF (ARKK) bought 17,698 Coinbase shares on Thursday and another 13,065 shares on Friday. The fund also accumulated Circle stock on both days, purchasing 13,973 shares on Thursday, before increasing that figure to 100,250 shares on Friday.

COIN stock was down by 0.52% during after-hours, after closing down over 7% on Friday. On Stocktwits, the retail sentiment around COIN remained in the ‘bearish’ zone, while chatter around it stayed at ‘normal‘ levels over the past day. 

At the same time, CRCL stock stayed almost flat during after-hours, after closing down over 11% on Friday. On Stocktwits, the retail sentiment around CRCL remained in the ‘bearish’ zone, while the chatter around it stayed in the ‘low’ levels over the past day.

Alibaba Leads Buying Activity

Among ARKK's transactions, Alibaba was the fund's largest purchase by share count, with 245,342 shares added, representing about 0.45% of the ETF. The fund also bought 40,078 Meta shares and 14,190 shares of semiconductor company Broadcom (AVGO).

The Friday session featured a lighter trading slate. Alongside the purchases of Coinbase and Circle, ARKK added 87,414 shares of biotech company Beam Therapeutics (BEAM).

ARK Cuts Archer, Baidu Stakes

On the selling side, ARKK reduced its position in Archer Aviation (ACHR) over the two trading sessions, offloading a combined 784,380 shares. The fund also sold 457,754 shares of Baidu (BIDU), its largest disposal by share count during the period. Additional sales included Veracyte (VCYT) and Teradyne (TER), as ARK continued to rebalance positions across its portfolio.

The latest trades come as ARK Invest continues to increase exposure to crypto-related companies.

In the firm’s recent In the Know (ITK) update, founder and CEO Cathie Wood said some on-chain indicators suggest bearishness toward Bitcoin (BTC) has reached extreme levels, while noting that the cryptocurrency's near-term outlook remains clouded by concerns over quantum computing and potential selling pressure from large holders.

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