ARK Invest Doubles Down on Crypto Stocks Amid Market Dip

Cathie Wood's ARK Invest is capitalizing on the recent pullback in crypto-related stocks, making strategic additions to its positions in Bullish (BLSH) and Robinhood (HOOD). The firm acquired 356,346 shares of Bullish for $21.2 million on August 19, expanding its total holdings to 1.17 million shares worth approximately $74 million. Bullish, which recently went public in a $1.1 billion offering, remains a cornerstone of ARK's crypto exposure.

Robinhood saw its third consecutive day of buying from ARK, with 150,908 shares purchased for $16.2 million. This follows $14 million and $9 million investments earlier in the week. While ARK trimmed some Robinhood exposure in 2024, the latest moves signal renewed conviction in the trading platform's crypto integration.

The buying spree comes as digital asset stocks face broad selling pressure. Wood's firm appears to be treating the weakness as a buying opportunity, reinforcing its long-term bullish stance on blockchain adoption. Market observers will watch whether this institutional accumulation marks a potential inflection point for the sector.