Cathie Wood’s ARK Drops $59M Into Beaten Crypto Stocks As Selloff Deepens

Cathie Wood’s ARK Invest moved decisively into beaten-down crypto stocks Monday, snapping up roughly $59 million of shares as the sector extended a multiday slide. Per an email disclosure, ARK’s purchases included: - About $16.3 million of Coinbase (COIN) - Roughly $10.8 million of Circle Internet Group (CRCL) - Around $17 million of Bitmine Immersion Technologies - Approximately $9.9 million of CoreWeave - About $5.2 million of Bullish (BLSH) The buys came amid renewed selling across major crypto-related equities. On the day, Bitmine fell more than 11%, Circle slid nearly 10%, CoreWeave dropped roughly 8%, and Coinbase declined just over 6%, while Bullish continued a multi-session retreat. ARK has a habit of adding to positions during drawdowns rather than chasing momentum, and Monday’s activity amplified stakes the firm already holds in the space. ARK’s existing crypto exposure includes roughly $609 million in Coinbase, about $323 million in Circle Internet Group, around $275 million in Bitmine, approximately $194 million in Bullish, and about $140 million in CoreWeave. The move underscores ARK’s conviction in crypto-linked companies even as prices wobble, using successive selloffs as buying opportunities to bolster sizeable core positions. Read more AI-generated news on: undefined/news