TLDR
- ARK Invest bought over $44 million in crypto-related stocks on Monday including Robinhood, Circle, and BitMine
- Robinhood shares worth $21.1 million and BitMine shares worth $6.2 million were purchased through ARKK ETF
- Circle stock dropped 7.9% to $58.86 while Robinhood fell 10% and BitMine declined 9%
- Bitcoin fell below $80,000 in February while Ether dropped 20% over the past week
- Cathie Wood noted gold’s price rally historically preceded bitcoin’s bull runs
Cathie Wood’s ARK Invest made substantial purchases in cryptocurrency-related stocks on Monday. The investment firm bought more than $44 million across multiple digital asset companies.
The purchases happened through ARK’s exchange-traded funds. The ARK Innovation ETF (ARKK) and ARK Blockchain & Fintech Innovation ETF (ARKF) executed most of the trades.
ARK acquired 235,077 Robinhood shares valued at approximately $21.1 million. The trading platform’s stock fell nearly 10% on Monday.
The firm also purchased 274,358 BitMine shares worth around $6.2 million. BitMine is an Ethereum treasury company that dropped 9% on the same day.
Bitmine Immersion Technologies, Inc., BMNR
Circle received the third-largest investment. ARK bought $9.4 million worth of the stablecoin issuer’s shares across two ETFs. Circle’s stock closed down 7.9% at $58.86 on Monday.
Additional Crypto Stock Purchases
ARK invested $6 million in Bullish crypto exchange shares. The stock declined 4.7% during Monday’s trading session.
The asset manager added smaller positions in other crypto companies. Block Inc. received $1.9 million while Coinbase got $1.25 million in new investments.
Coinbase shares fell 3.5% on Monday. The exchange has faced pressure along with other crypto-linked stocks.
The stock purchases occurred during a difficult week for cryptocurrency markets. Bitcoin traded at $78,641, down 10.9% over seven days.
Ether experienced even steeper declines. The second-largest cryptocurrency fell 20% over the same period to $2,331.
Market Conditions and Strategy
Bitcoin dropped below $80,000 in February. This marks the first time the cryptocurrency fell below that level since April 2025.
Circle’s stock has fallen 65% over the past six months. The decline reflects broader weakness in crypto-related equities.
ARK’s ETFs have experienced sustained pressure recently. The market has struggled since October’s crypto market crash.
This represents the second time ARK has increased crypto exposure during a downturn. The firm made similar purchases late last month.
Cathie Wood recently shared her market outlook on social media. She pointed to gold’s recent price rally as a potential indicator.
Wood stated that gold and bitcoin have shown a correlation of 0.14 since early 2020. She noted gold’s price led bitcoin’s last two major bull runs.
The ARK Next Generation Internet ETF also expanded crypto holdings. The moves demonstrate ARK’s continued confidence in the sector despite current market conditions.