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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InIn a move reflecting a strategy of capitalizing on sharp market downturns, Cathie Wood's ARK Invest has doubled down on its digital asset thesis. According to reports, the firm purchased approximately $77 million worth of crypto-related stocks during June. The buying spree included a $44 million allocation to Coinbase (COIN), alongside $25.25 million in Circle (CRCL) and $8.2 million in Bullish (BLSH).
These acquisitions come at a critical juncture for the sector as institutional players gauge the resilience of trading platforms amid price volatility. In comparison to peers, Robinhood (HOOD) reported a 224% year-over-year increase in crypto trading volumes in its latest quarterly results (Source: HOOD Earnings), signaling broader sector momentum. Per market data, investors are closely watching whether Coinbase can maintain its fee structures as competition from spot ETFs intensifies.
Regarding price action, COIN stood at $165.48 (at close July 2, 2026), having hit an intraday high of $173.09. Traders should look ahead to the Chinese Manufacturing PMI data on June 30, 2026, as a potential catalyst for global risk sentiment. Immediate support appears to be forming around the $163.22 level, which marked the recent session low in pre-fetched market data.