Despite a bearish digital asset market, Ark Invest, led by Cathie Wood, has been increasing its exposure to crypto-related stocks over the past few trading days. The investment firm acquired thousands of shares tied to several crypto companies, taking advantage of lower prices.
According to Ark Invest’s February 3 trade filings, the firm spent over $19 million on crypto-linked stocks through its ETFs. Purchases included shares of Circle, Coinbase, Bullish, Bitmine, Block Inc., and Robinhood. On Tuesday alone, Ark Invest bought 145,488 Bitmine shares for $3.25 million, 125,218 Bullish shares for $3.46 million, 42,878 Circle shares for $2.4 million, 3,510 Coinbase shares for $630,606, 31,202 Block Inc. shares for $1.77 million, and 89,677 Robinhood shares for $7.8 million.
These purchases followed a larger round of acquisitions on Monday, when Ark Invest bought over $71 million in crypto-related shares through ETFs including the ARK Blockchain & Fintech Innovation ETF and the ARK Innovation ETF.
The broader crypto market has been struggling, with Bitcoin trading at around $76,000, down 17 percent over the past month and 14 percent in the past week. Most crypto-related stocks have posted double-digit losses over the last three months. Despite these declines, Ark Invest has continued buying, suggesting the firm sees the current market slump as an opportunity to expand its crypto holdings.
