Company Ark Invest, owned by Cathie Wood, continues increase the share of shares issuers related to cryptocurrencies, amid global market volatility.
On Tuesday, the organization acquired a total of 22452 shares of the American crypto exchange Coinbase through ARKK, ARKW, and ARKF. At Tuesday’s closing price of $182,36, the purchase was valued at approximately $4,09 million.
The company also purchased 158587 shares of Robinhood through the same three exchange-traded funds for about $12,06 million at Tuesday’s closing price of $76,07.
Shares of both companies declined in recent trading as geopolitical uncertainty surrounding the US-Iran war continued to weigh on the stock market. On Tuesday, the Nasdaq Composite Index fell 1%, while the S&P 500 Index fell 0,94%. Coinbase shares fell 1,55%, while Robinhood shares fell 3,44%.
Earlier this month, the company invested over $32 million in Robinhood shares through two of its exchange-traded funds. Around the same time, the company acquired stakes in Coinbase, cryptocurrency exchange Bullish, and stablecoin issuer Circle.
Following the latest acquisition, Coinbase and Robinhood became the sixth- and seventh-largest holdings in the ARKK fund’s portfolio as of March 4. Robinhood is fifth in the ARKW fund’s portfolio, and Coinbase is eighth.