Cathie Wood’s Ark Invest took advantage of Wednesday’s market dip, adding $39.6 million worth of shares across three crypto-related companies as digital asset prices continued to slide.
The investment firm disclosed buying 463,598 shares of crypto exchange Bullish (BLSH), a purchase valued at $16.9 million at the close of trading. Ark also expanded its stake in Circle Internet Group (CRCL), the issuer behind USDC, acquiring 216,019 shares for roughly $15.1 million. Additionally, it bought 260,651 shares of Bitmine Immersion Technologies (BMNR), an ether-focused treasury and infrastructure firm, in a move worth $7.6 million.
These holdings sit within Ark’s innovation-oriented ETF lineup, including the ARKK, ARKW, and ARKF funds, each of which maintains exposure to crypto-native and blockchain-adjacent companies.
The latest purchases came as the broader crypto market endured renewed pressure. Bitcoin (BTC) dropped as low as $89,000 this week, weighing on sector equities. CRCL and BMNR fell around 9% on Wednesday, while BLSH — the parent of CoinDesk — slipped 3.63%. The CoinDesk 20 Index (CD20) ended the day down 3.22%.
Ark Invest has a history of leaning into volatility, frequently adding to positions when share prices weaken to capture perceived long-term value or to rebalance its ETFs toward target weightings.
