ARK Invest crypto buying pushed through another $25.54 million on Friday, with Cathie Wood’s firm adding Coinbase, SpaceX, Circle, Bullish, and Robinhood across multiple ETFs as it continues a pattern of dip-accumulation in crypto-adjacent equities.
Friday’s Breakdown: Coinbase Leads, Circle Gains Ground
Coinbase took the largest slice of Friday’s allocation. ARK bought 68,366 COIN shares through ARKK, ARKW, and ARKF, valued at $10.19 million at the $149.06 close.
SpaceX ranked second. Across ARKK, ARKQ, ARKW, and ARKX, the firm picked up 45,728 shares worth $7.01 million based on a $153.23 close. Circle Internet Group accounted for another $5.79 million: 78,756 shares across ARKK, ARKW, and ARKF at a $73.57 close.
Bullish and Robinhood rounded out the day. ARK added 57,511 Bullish shares at $23.29 ($1.34 million) and 12,269 Robinhood shares at $98.69 ($1.21 million).
ARK Invest Crypto Buying Pattern: Buy the Dip, Mind the Cap
Friday’s purchases cap a week of heavy accumulation. Earlier in the week, according to Bitcoin Foundation, ARK bought 111,799 Coinbase shares for roughly $18.4 million after COIN closed down 2.57% at $164.92, extending a monthly decline of nearly 13%. The snippet described the purchase as “about $18 million”; the $18.4 million figure from the Bitcoin Foundation report is the more precise read.
The day before that purchase, Coinbase had announced the launch of tokenised stocks, letting users buy and hold tokenised versions of U.S. equities, per the same source.
ARK also bought 9,014 Coinbase shares, 9,264 Circle shares, 9,136 Bullish shares, and 35,023 Robinhood shares after all four fell on Thursday’s session. Coinbase dropped 5.06%, Circle 3.06%, Robinhood 3.83%, and Bullish 6.77% that day.
According to CryptoNews, ARK also acquired roughly $444.3 million in SpaceX shares on the company’s Nasdaq debut on 12 June, and had accumulated more than $4.4 million in Bullish shares over two sessions earlier in May after Bullish fell for five consecutive days.
The 10% per-holding cap ARK operates under explains much of the mechanics. As prices move, the firm trims outperformers and adds to laggards to stay within limits. That policy was on full display when Circle listed on the NYSE: ARK bought $373.4 million worth of CRCL on debut day, with CRCL entering ARKK at a 4.4% weighting ($251.8 million), ARKW at 4.4% ($77.2 million), and ARKF at 4.3% ($44.5 million), per The Block. To fund that position, ARK simultaneously sold Coinbase, Robinhood, Block, and its own Bitcoin ETF to keep allocations in check.
The rebalancing trade went the other way on 24 June. CoinDesk reported ARK sold 415,855 Circle shares valued at $109.6 million (at a $263.45 close) while buying 4,198 Coinbase shares worth $1.3 million and 319,640 Robinhood shares worth $24.4 million on the same day.
Wood’s Macro View: Inflation Is Already Over
The buying comes as Wood has been publicly dismissing persistent-inflation narratives. Investor meetings across Asia and Europe, she wrote on X, showed broad expectations for sticky inflation and further Federal Reserve tightening. Her read of the data differs.
Wood argues that when you measure underlying inflation through unit labour costs, it has nearly vanished. Using Q1 figures, she cited U.S. productivity up roughly 3% year over year against compensation per hour rising roughly 3.5%, leaving implied underlying inflation at around 0.5%. She also pointed to Truflation’s real-time gauge, which she said has fallen from about 11% in 2022 to 1.8%, with its core measure at 1.4%.
Those figures sit at odds with market pricing around a possible 25-basis-point Fed hike in September following May’s 4.2% CPI print. If Wood’s deflation thesis proves correct, rate-sensitive crypto-linked equities stand to rerate. If it doesn’t, this week’s accumulation was aggressive at the wrong moment, per Yahoo Finance.
The next hard data point: the June CPI release. That number will either validate Wood’s unit-labour-cost framing or give COIN bears another entry.
