Cathie Wood's ARK buys over $70 million of crypto stocks as bitcoin slides

Cathie Wood's ARK continues to be a dip buyer, snapping up shares worth several million dollars on Monday as the market swoon offered bargain prices.

The firm bought approximately $72 million worth of crypto stocks across its various funds as bitcoin fell briefly below $75,000, leading to widespread losses in crypto-linked equities.

The purchases spanned exchanges, brokerages and infrastructure providers, with Robinhood, Circle Internet, Coinbase, Bullish, CoreWeave, Bitmine Immersion Technologies, and Block among the names added across ARKF, ARKK, and ARKW according to daily disclosures. Bullish is the parent company of CoinDesk.

Across its funds, Ark Invest bought about $32.7 million of Robinhood (HOOD), $14.6 million of CoreWeave (CRWV), $9.4 million of Circle (CRCL), $6.3 million of Bitmine (BMNR), $6.0 million of Bullish (BLSH), $1.9 million of Block (XYZ), and $1.3 million of Coinbase (COIN).

The strategy aligns with Ark’s long-stated approach of buying into equity weakness tied to broader crypto volatility, betting that cyclical downturns eventually give way to renewed adoption and higher transaction volumes. The latest dip buying operation follows the firm’s $21.5 million late-January purchases of Coinbase, Circle and Bullish as bitcoin slid under $90,000.

It also aligns with CEO Cathie Wood’s recent argument that bitcoin can be a “good source of diversification” for investors, citing Ark research showing the token’s correlations with stocks, bonds and gold have historically been weaker than those assets’ correlations with each other.