ARK Invest Buys the Dip as Crypto Stocks Extend Multi-Day Slide

Cathie Wood’s ARK Invest moved aggressively into beaten-down crypto stocks on Monday, continuing its long-standing strategy of buying during market pullbacks as selling pressure intensified across the sector. According to ARK’s daily email disclosure, the investment firm spent roughly $59 million adding to positions in several major crypto-related companies, even as prices continued to fall for a third consecutive session.

The largest purchase was Coinbase Global (COIN), where ARK invested approximately $16.3 million. The firm also bought around $5.2 million worth of Bullish (BLSH) shares and roughly $10.8 million of Circle Internet Group (CRCL), the issuer behind the USDC stablecoin. Additional purchases included about $17 million in Bitmine Immersion Technologies and close to $9.9 million in CoreWeave, highlighting ARK’s broad exposure to both crypto trading platforms and infrastructure providers.

Crypto stocks had already been under pressure before Monday’s selloff accelerated. Bitmine Immersion Technologies dropped more than 11% during the session, while Circle shares slid nearly 10%. CoreWeave fell close to 8%, Coinbase declined over 6%, and Bullish extended an ongoing multi-day downturn. The widespread weakness reflected a broader risk-off move in digital asset equities, even as spot crypto markets showed mixed signals.

ARK Invest is well known for leaning into volatility rather than avoiding it, often adding to positions during extended drawdowns instead of chasing short-term momentum. This approach has been especially visible in its crypto strategy, where the firm has consistently increased exposure during periods of market stress.

The latest purchases added to already substantial holdings. ARK currently owns roughly $609 million worth of Coinbase stock, around $323 million in Circle Internet Group, approximately $275 million in Bitmine Immersion Technologies, about $194 million in Bullish, and close to $140 million in CoreWeave. These figures underscore how central crypto-related equities remain to ARK’s long-term investment thesis.

By continuing to buy crypto stocks during a multi-day selloff, ARK Invest is signaling confidence in the long-term growth of the digital asset ecosystem, even as short-term volatility and market uncertainty persist.