Cathie Wood's ARK Buys $70 Million in Crypto Stocks as Bitcoin Slides
Investment firm doubles down on exchange and stablecoin companies amid market weakness
Nonepaper Staff••1 min read
ARK Invest, led by star investor Cathie Wood, has purchased over $70 million worth of cryptocurrency-related stocks as bitcoin continues its downward slide, signaling confidence in the sector despite ongoing market turbulence.
The fresh buys focused on CRCL, COIN (Coinbase), and BLSH, with ARK leaning into exchange and stablecoin-focused names during what the firm apparently sees as an attractive entry point.
The purchases come as bitcoin has posted its fourth consecutive monthly loss, testing investor conviction in the broader crypto ecosystem.
Analysis
Why This Matters
ARK's aggressive buying during downturns has historically preceded major recoveries—or significant losses.
What to Watch
Whether ARK's contrarian bet pays off as crypto markets search for direction.