Cathie Wood’s ARK Invest once again embraced a dip-buying strategy on Monday, purchasing roughly $72 million in crypto-related stocks as bitcoin briefly dipped below $75,000, pulling down digital-asset-linked equities.
The acquisitions, spread across ARKF, ARKK, and ARKW, focused on exchanges, brokerages, and crypto infrastructure providers, including Robinhood, Circle Internet, Coinbase, Bullish, CoreWeave, Bitmine Immersion Technologies, and Block. (Bullish is the parent company of CoinDesk.)
Specifically, ARK added about $32.7 million in Robinhood (HOOD), $14.6 million in CoreWeave (CRWV), $9.4 million in Circle (CRCL), $6.3 million in Bitmine (BMNR), $6.0 million in Bullish (BLSH), $1.9 million in Block (XYZ), and $1.3 million in Coinbase (COIN) across its funds.
The move is consistent with ARK’s long-standing strategy of buying into weakness in crypto-linked equities, betting that cyclical downturns eventually give way to higher adoption and transaction volumes. This follows a similar round in late January, when the firm invested $21.5 million in Coinbase, Circle, and Bullish as bitcoin fell below $90,000.
The purchases also align with CEO Cathie Wood’s view that bitcoin can serve as a portfolio diversifier. ARK research has shown that bitcoin’s correlations with stocks, bonds, and gold are typically lower than the correlations among those traditional assets, making crypto a potential complement to conventional investment portfolios.
