ARK Invest Expands Crypto Holdings Amid Market Downturn
Cathie Wood's ARK Invest capitalized on the recent crypto market slump, acquiring significant stakes in BitMine Immersion Technologies, Circle, and Bullish. The firm's ETFs—ARK Fintech Innovation (ARKF), ARK Next Generation Internet (ARKW), and ARK Innovation (ARKK)—collectively purchased 169,407 shares of BitMine and 75,515 shares of Bullish in a single day.
The buying spree coincided with sharp declines in crypto-related stocks. Bullish fell 6% to $38.49, while BitMine dropped to $34.40. ARK also invested approximately $46 million in Circle as its shares tumbled 40% to $81.89 over the past week.
Market volatility continues to buffet crypto assets, with Bitcoin struggling below the $100,000 threshold. Wood's moves signal institutional confidence in blockchain infrastructure plays during periods of retail investor uncertainty.
