Ark Invest Doubles Down on Crypto Stocks Amid Market Dip

Cathie Wood's Ark Invest made a $37.4 million bet on crypto-linked equities Tuesday, capitalizing on sector-wide declines. The firm acquired $21.2 million in Bullish (NYSE: BULL) shares and $16.2 million in Robinhood (NASDAQ: HOOD) stock through its ARK Innovation ETF, marking its third consecutive day of Robinhood accumulation.

Bullish shares traded 6.1% lower at $59.51 during the purchase, while Robinhood fell 6.5% amid broad crypto stock weakness. Ark now holds 1.16 million Bullish shares worth $73.85 million, building on its initial $170 million position established during the exchange's market debut.

The buying spree contrasts with sector-wide declines that saw Coinbase drop 5.82% and Galaxy Digital plunge 10.06%. Ark's persistent accumulation of Robinhood shares—150,908 units in this latest transaction—signals conviction in the brokerage's crypto infrastructure play despite regulatory headwinds.