Latest news with #ARKFintechInnovationETF
Yahoo
4 days ago
- Business
- Yahoo
Cathie Wood Loads Up On This IPO Stock As It Reverses Out Of Buy Zone
Cathie Wood and Ark Invest on Tuesday purchased thousands of shares of IPO stock eToro Group as the trading platform notched a volatile session after reporting first-quarter earnings. Wood's ARK Fintech Innovation ETF added 49,922 shares of ETOR on Tuesday for an estimated $3.34 million, according to daily trade disclosures. The IPO stock edged higher at the opening bell in Tuesday stock market action before sinking nearly 12% to 66.96.
Yahoo
5 days ago
- Business
- Yahoo
Is Cathie Wood Back After ARK's $500M Circle Win?
ARK Invest is reaping the rewards of a bold bet on the latest crypto company to hit the public markets. Shares of Circle Internet Group (CRCL), the firm behind the USDC stablecoin, exploded out of the gate after its initial public offering last Thursday, sending several of ARK's actively managed exchange-traded funds sharply higher. Circle priced its IPO at $31 a share and opened trading with a bang, climbing as high as $139 by Monday. Before the offering, ARK had indicated it would purchase up to $150 million worth of shares at the IPO price, equivalent to about 4.8 million shares. On Thursday, ARK confirmed that it had acquired a combined 4.5 million Circle shares across three of its funds: 3 million shares for the ARK Innovation ETF (ARKK) 927,000 shares for the ARK Next Generation Internet ETF (ARKW) 534,000 shares for the ARK Fintech Innovation ETF (ARKF) If ARK was able to purchase those shares near the IPO price, it would be up more than $500 million at Monday's high. The surge in Circle's stock price helped power a big rally in the ARK funds. ARKK jumped 8.5% on Friday, ARKW rallied 6.8% and ARKF gained 6.3%. Circle is now a top holding in each fund: 5.4% of ARKK (sixth-largest holding) 5.5% of ARKW (seventh-largest) 5.3% of ARKF (fifth-largest) The successful IPO and outsized gains highlight one of the benefits of active ETFs: the ability to participate meaningfully in hot new offerings, something that's often out of reach for individual investors. That said, Circle's debut is far from typical. Most IPOs don't quadruple in a matter of days. The enthusiasm around Circle reflects investor excitement about the company's role in the growing world of stablecoins. USDC, the company's flagship product, is the second-largest stablecoin globally with a market value topping $60 billion. Stablecoins are blockchain-based representations of traditional currencies, like the U.S. dollar and the euro, and are redeemable for the real underlying currency. While domestic payment systems have become faster and cheaper in recent years, stablecoins offer advantages for international transfers, allowing money to move across borders more quickly and cheaply than with traditional bank transfers or card networks. Circle earns revenue by holding reserves behind USDC and investing those reserves in safe, interest-bearing assets. With interest rates currently at relatively high levels, so too are Circle's earnings, helping boost its appeal as a public company. The big win in Circle has led some to wonder whether Cathie Wood's ETFs could be staging a comeback. ARKK, which manages over $5 billion, is up 9% year to date, outpacing the Invesco QQQ Trust (QQQ), which has gained 4%. ARKW and ARKF are up more than 20% each in 2025. Still, ARK's longer-term track record remains challenged. ARKK is down 4% over the past five years, while QQQ is up 123% during the same period. Time will tell whether this marks the start of an ARK comeback or simply a rare win for a struggling active ETF | © Copyright 2025 All rights reserved Sign in to access your portfolio
Yahoo
06-04-2025
- Business
- Yahoo
Cathie Wood's ARK Buys Over $13M Worth Coinbase Shares During Market Rout
Cathie Wood's ARK Investment Management took advantage of the $5.4 trillion U.S. equities market sell-off and purchased over 83,000 shares of Coinbase (COIN), increasing exposure to the crypto exchange even as prices dipped sharply across the board. The total shares purchased were worth more than $13 million, taking Friday's closing price for Coinbase. According to ARK's daily trading disclosure for April 4, Wood's flagship ARK Innovation ETF (ARKK) bought nearly 55,000 Coinbase shares, with additional purchases coming from the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF). The timing is notable. Coinbase shares have slipped more than 12% during the market rout, while bitcoin and other cryptocurrencies showed resilience. The CoinDesk 20 (CD20) index dropped by 5.8% in the same period. The sell-off came after U.S. President Donald Trump unveiled his reciprocal tariffs against nearly every country in the world. Read more: Bitcoin Begins to Decouple From Nasdaq as U.S. Stocks Crumble Sign in to access your portfolio
