Crypto27 June, 20263 min read
Cathie Wood’s ARK Invest Adds Coinbase, Circle, and Bullish to ARKK and ARKF
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ARK Invest increased exposure to Coinbase and Circle in ARKK and ARKF. ARK funded new crypto purchases by selling Meta shares.
ARK buys crypto-linked stocks
ARK Invest, led by Cathie Wood, increased its exposure to crypto-linked equities as prices fell across the sector, adding Coinbase, Circle and Bullish through its ARK Innovation ETF (ARKK) and ARK Fintech Innovation ETF (ARKF).
According to ARK’s daily trading disclosures on Friday, ARKK bought 38.854 shares of Coinbase Global Inc. (COIN) and ARKF added 3.325 more, for total Coinbase purchases valued at 9,4 millones de dólares.
In the same disclosures, ARK added 129.446 shares of Circle Internet Group (CRCL) across ARKK and ARKF, valued at approximately 9,2 millones de dólares, and added 88.533 shares of Bullish, investing unos 3,2 millones de dólares.
While ARK was buying crypto-linked names, it also sold 12.400 shares of Meta Platforms (META) valued at approximately 8,03 millones de dólares, and Coinbase shares closed down 2,77% at 216,95 dólares.
In its Big Ideas 2026 projections, ARK said the crypto market could be worth 28 billones de dólares in 2030 and projected a Bitcoin price range of 950.000 a 1 millón de dólares if about 20,5 millones de Bitcoin are mined by 2030.
Regulation fears hit Circle
Circle and Coinbase shares slid sharply after a US Clarity Act bill raised fears of strict limits on stablecoin yields, with CoinDesk saying Circle shares fell 20% and Coinbase declined about 10%. CoinDesk reported that the latest version of the Clarity Act would prohibit rewards on passive stablecoin balances and ban structures "economically equivalent to interest", threatening a key incentive behind USDC adoption. Dan Dolev, an analyst at Mizuho, said the potential ban could reduce Circle’s usage in the near term while not paying rewards would dampen the long-term appeal of holding USDC on Coinbase’s platform.
CoinDesk also tied the selloff to Circle’s stock dropping after a preliminary version of the US stablecoin legislation raised concerns about yield limits, following a 170% rally since early February. In parallel, TradingView’s alternative framing cited that Coinbase and Circle have fallen 69% and 72%, respectively, from their all-time highs, and noted that negative sentiment intensified after Bitcoin fell below $60,000 this week.
IPO plans and market stakes
Despite crypto stock weakness, Morningstar said a new group of companies specializing in digital assets is expected to go public in 2026, with Kraken filing a confidential IPO application in the fourth quarter and ConsenSys and Ledger preparing their IPOs.
Morningstar quoted Michael Miller of Morningstar saying that "most crypto-focused companies are heavily exposed to both the price of cryptocurrencies and the interest they generate," linking public-market outcomes to crypto price fluctuations.
Morningstar also described how stablecoin issuers could offer a haven because stablecoins do not exhibit the volatility of traditional cryptocurrencies, as their value is tied to the value of underlying investments, usually U.S. Treasury securities.
In the background of those IPO discussions, CoinDesk said the Clarity Act’s focus on stablecoin yields could complicate the evolution of tokens like USDC beyond simple payments, while analysts argued the market’s near-term reaction may not be existential.
TradingView’s alternative coverage added that 21Shares has lowered expectations for 2026, while still arguing that Bitcoin’s four-year market cycle remains the dominant force driving crypto prices, with 21Shares saying "Bitcoin’s cycle is evolving, but it has not broken yet."