ARK Invest Buys 37,153 Coinbase Shares Backed by CLARITY Act Support
COIN•ARK Invest added 37,153 Coinbase shares across its ARKK, ARKW and ARKF ETFs Monday, marking its second consecutive crypto-stock purchase in days. The trades align with Cathie Wood’s backing of the CLARITY Act, which could define tokens as commodities and unlock greater institutional demand for exchanges.
1. ARK Invest Resumes Coinbase Buying
ARK Invest added 37,153 shares of Coinbase Monday, following an initial purchase of the same name last Friday. This marks a sustained rotation back into crypto-linked equities rather than a one-off trade.
2. ETF Allocation Breakdown
The Coinbase shares were acquired across the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF), alongside simultaneous buys of Circle and Bullish. These moves coincide with reductions in Chinese tech holdings such as Alibaba and Baidu.
3. CLARITY Act Regulatory Impact
Cathie Wood’s support for the CLARITY Act aims to classify tokens as commodities under CFTC jurisdiction, providing long-sought regulatory certainty. This framework could entice institutional investors to increase allocations to regulated exchanges like Coinbase.
