Cathie Wood’s ARK Invest leaned into the latest crypto market downturn on Monday, snapping up shares across a range of digital-asset-related companies as falling prices created what the firm viewed as attractive entry points.
ARK purchased roughly $72 million worth of crypto-linked equities across its funds as bitcoin briefly slipped below $75,000, a move that dragged down stocks tied to exchanges, brokerages and crypto infrastructure providers. The buying was disclosed in the firm’s daily trading updates.
Additions were spread across ARKF, ARKK and ARKW, with positions increased in Robinhood, Circle Internet, Coinbase, Bullish, CoreWeave, Bitmine Immersion Technologies and Block. Bullish is the parent company of CoinDesk.
In total, ARK bought about $32.7 million of Robinhood (HOOD), $14.6 million of CoreWeave (CRWV), $9.4 million of Circle (CRCL), $6.3 million of Bitmine (BMNR), $6.0 million of Bullish (BLSH), $1.9 million of Block (XYZ) and $1.3 million of Coinbase (COIN).
The purchases reflect ARK’s long-standing strategy of buying into equity weakness tied to crypto market volatility, on the view that cyclical downturns eventually give way to renewed adoption and higher transaction activity. The latest round of dip buying follows similar moves in late January, when the firm spent $21.5 million on shares of Coinbase, Circle and Bullish as bitcoin fell below $90,000.
The approach also aligns with Wood’s broader thesis that bitcoin can serve as a portfolio diversifier. She has pointed to ARK research showing that bitcoin’s correlations with stocks, bonds and gold have historically been lower than the correlations among those traditional assets themselves.
