ARK Invest Doubles Down on Crypto Despite Market Slump, Acquires $42M in Circle, Bullish & BitMine
Cathie Wood's ARK Invest made a bold $42 million crypto-sector bet Wednesday, loading up on shares of Bullish, Circle Internet Group, and BitMine Immersion Technologies amid a brutal market selloff. The purchases mark one of ARK's most aggressive single-day allocations this month, demonstrating conviction during a period when crypto-linked stocks have tumbled from October highs.
Bullish emerged as the primary beneficiary, with ARK's ETFs snapping up 463,598 shares worth $16.8 million as the exchange's stock slid 3.63% to $36.39. The buying spree follows ARK's established pattern of accumulating crypto assets during periods of weakness—a strategy that's drawn both admiration and skepticism as digital asset markets continue their November descent.
