Ark Invest Sees Buying Opportunity, Scoops Up $42M in Beaten-Down Crypto Stocks

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Cathie Wood’s Ark Invest executed a significant buying spree on Wednesday, investing a combined $42.2 million in crypto-centric companies whose stocks fell sharply during the market sell-off.

The firm’s flagship ETFs—ARKK, ARKW, and ARKF—acquired $17.7 million in Circle Internet Financial, $16.9 million in Bullish, and $7.6 million in BitMine Immersion Technologies.

The purchases were timed as shares of all three companies declined. Circle fell nearly 9%, Bullish dropped 3.6%, and BitMine plunged 9.6%, amid a broader crypto market downturn that saw Bitcoin retreat from recent highs.

This move aligns with Ark’s strategy of buying innovative companies during periods of market weakness, betting on their long-term growth potential despite short-term volatility.