Cathie Wood Loads Up In These 3 Crypto-Linked Stocks On Monday

Cathie Wood-led Ark Investment Management on Monday loaded up more shares in Robinhood Markets Inc HOOD, Coinbase Global Inc COIN and Block Inc SQ on the day shares of the cryptocurrency-linked fintech stocks rose after the recent slump.

The popular money manager bought 129,000 shares — estimated to be worth $1.8 million — in Robinhood on the day shares of the financial platform that deals in stocks, exchange-traded funds and cryptocurrencies soared.

Robinhood stock closed 11.15% higher to close at $14.15 on Monday. The stock is down 59% since going public in July.

The asset management firm has been piling up shares in the commission-free trading app that also deals in Bitcoin BTC/USD, Ethereum ETH/USD, Dogecoin BTC/USD and other cryptocurrencies.

Cathie Wood's Crypto-linked Buys On Monday
Company No. of shares Estimated $ value (million)
Robinhood 129,000 1.8
Coinbase 34,538 6.56
Block 105,287 12.87

The money managing firm bought shares in Robinhood via the Ark Innovation ETF ARKK on Monday. It also owns shares via two other ETFs — the Ark Fintech Innovation ETF ARKF and the Ark Next Generation Internet ETF ARKW.

See Also: Cathie Wood Buys The Dip In Heavy-Crypto-Exposure Stocks Robinhood And Block

The three ETFs held 24.4 million shares — worth $310.5 million — in Robinhood, prior to Monday’s trade. 

Ark Invest also snapped up 105,287 shares in the Jack Dorsey-led financial services and digital payments company Block and 34,538 shares in Coinbase. The purchased shares were estimated to be worth $12.8 million and $6.56 million in Block and Coinbase respectively.

Block shares closed 10.8% higher at $122.3 a share on Monday, while those of Coinbase closed 7% higher at $190.15 a share. Shares of Block and Coinbase are down 25.5% and 24.3% respectively.

Ark Invest held 5.9 million shares — worth about $653 million — in Block, ahead of Monday’s trades.

See Also: Cathie Wood Sheds $14.5M In Spotify Amid Joe Rogan Controversy And Piles Up Another $31M In Robinhood

In Coinbase, it held 5 million shares — worth $904.8 million — prior to Monday’s trades.

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