Cathie Wood’s Ark Invest scooped up nearly $10 million worth of beaten-down crypto stocks over the past week, adding to positions in Coinbase Global (NASDAQ:COIN) and Circle Internet Group (NYSE:CRCL) after both shares slid.
Ark bought 54,776 Coinbase shares worth about $8 million after the crypto exchange tumbled more than 14% following a second-quarter earnings miss. Coinbase remains the sixth-largest holding in the ARK Innovation ETF (BATS:ARKK), accounting for 4.2% of the portfolio, valued at roughly $238 million.
The firm also added 23,070 Circle shares worth about $1.4 million. Circle, now ARKK’s ninth-largest holding at $210.5 million, has come under pressure after analysts lowered price targets over concerns that the Open USD consortium could intensify competition in the stablecoin market, despite the company recently securing a New York trust charter license.
QUICK CONTEXT: Wood Stays Bullish on Crypto
Cathie Wood has consistently used sharp pullbacks to increase exposure to high-conviction innovation themes, and cryptocurrency remains one of Ark Invest’s biggest long-term bets. Rather than trimming positions after disappointing earnings or analyst downgrades, Ark has repeatedly added to companies it believes are building core digital-asset infrastructure.
Coinbase remains one of the largest publicly traded crypto exchanges and a key beneficiary of rising institutional adoption of digital assets. Circle, meanwhile, is betting that broader use of stablecoins and regulated digital payments will drive long-term growth, even as competition intensifies.
Wood’s latest purchases come as crypto equities have faced renewed volatility following earnings disappointments and shifting expectations around stablecoin regulation. The buying also reinforces Ark’s strategy of leaning into market weakness rather than chasing momentum—a hallmark of the firm’s actively managed innovation-focused portfolios.
Photo: Ark Invest
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