Cathie Wood’s ARK Invest bought over $39 million in Bullish, Circle and BitMine shares as crypto stocks dipped, signaling conviction amid market weakness.
Cathie Wood’s ARK Invest increased its exposure to crypto-related stocks on Wednesday, purchasing Bullish, Circle Internet Group and BitMine Immersion Technologies across multiple exchange-traded funds (ETFs) as crypto stocks slid deeper into the red.
According to ARK’s daily trade disclosure, the ARK Fintech Innovation ETF (ARKF) bought 48,011 shares of Bullish, while the ARK Next Generation Internet ETF (ARKW) added 92,670 shares. The ARK Innovation ETF (ARKK) made the largest move of the group, purchasing 322,917 shares of Bullish, bringing the total to $16.8 million.
ARK followed this with sizeable buys of Circle, the company behind the USDC (USDC) stablecoin. ARKF picked up 22,327 shares and ARKW snapped up 43,174, while ARKK added 150,518 shares, acquiring around $15 million worth of shares in the stablecoin issuer.
