ARK Invest Doubles Down on Crypto Infrastructure With $30M in Broadcom, Coinbase, and Circle Purchases
Cathie Wood's ARK Invest made strategic moves in semiconductor and crypto sectors, acquiring $15.96 million in Broadcom shares despite sector headwinds. The firm simultaneously bolstered its crypto infrastructure bets with $9.41 million in Coinbase and $9.24 million in Circle stock purchases.
ARK's filings for two new CoinDesk 20-tracking ETFs signal escalating institutional competition for crypto index products. The proposed funds WOULD utilize futures contracts, marking ARK's first crypto exposure beyond Bitcoin.
Wood's team trimmed $8 million from Meta Platforms while reducing genomics and defense holdings—a reallocation reflecting conviction in compute infrastructure and digital asset intermediaries.