Ark Invest Makes Major Moves in Tech and Crypto Stocks
Ark Invest has been actively expanding its investments in major tech and cryptocurrency stocks, notably acquiring over 174,000 shares of Alphabet, Google’s parent company, valued at more than $56 million this past Tuesday.
Cathie Wood’s firm also invested $3.75 million in the cryptocurrency exchange Coinbase, added $7 million in stablecoin issuer Circle, and invested around $2 million in their Bitcoin ETF, the ARK 21Shares Bitcoin ETF (ARKB).
This significant acquisition of Google shares comes just a week after the tech giant announced the development of its powerful AI model, Gemini 3. They’re also reportedly in discussions with major cloud providers for chip purchases, as mentioned in a Wall Street Journal report.
Recently, GOOG stock has been climbing, appreciating over 8.9% in the last five trading days and now priced at approximately $319.11. Over the last month, the stock has seen a rise of more than 22%, according to Yahoo Finance.
This rally is part of a broader trend, with shares up nearly 90% over the past six months, currently boasting a market cap of $3.816 trillion—surpassing the total value of the entire cryptocurrency market as of now.
Alongside Google, Ark invested $29.4 million in AI cloud company Coreweave and $21.5 million in Meta, Facebook’s parent company.
Interestingly, while there’s been some worry about the volatility of Bitcoin and Ethereum, Ark remains optimistic. Wood noted that, despite concerns about falling into an AI cycle reminiscent of past tech bubbles, she feels reassured. “It’s very different from what happened during the technology and communications bubble,” Wood expressed in a recent podcast.
She elaborated that, during the last tech boom, many companies were built on dreams and speculative ideas, but today’s technology is far more developed and ready for practical application.
There’s been a lot of uncertainty regarding AI valuations recently, compounded by broader macroeconomic concerns due to a lack of reliable data amid a government shutdown. Nevertheless, Ark Investments hasn’t slowed down its purchasing activity.
Just last week, Ark’s funds notably increased stakes in Coinbase and Bitmine Immersion Technologies, an Ethereum finance firm. They also made significant investments in Circle, which is reportedly returning to trading levels it hadn’t seen since a highly successful IPO back in June.
Earlier in the month, Wood revised her Bitcoin price target for 2030 down to $1.2 million per coin from an earlier estimate of $1.5 million, which she attributed to the rapid developments in the stablecoin market.
