Cathie Wood’s ARK remains a dip buyer, snapping up several million dollars worth of shares on Monday as the market swooned offering bargain prices.
The company bought about $72 million in cryptocurrency stocks across its various funds when bitcoin briefly fell below $75,000, triggering widespread losses in cryptocurrency-linked stocks.
The purchases spanned exchanges, brokerages, and infrastructure providers, with Robinhood, Circle Internet, Coinbase, Bullish, CoreWeave, Bitmine Immersion Technologies, and Block among the names added to ARKF, ARKK, and ARKW based on daily disclosures. Bullish is the parent company of CoinDesk.
Across its funds, Ark Invest bought about $32.7 million from Robinhood (HOOD), $14.6 million from CoreWeave (CRWV), $9.4 million from Circle (CRCL), $6.3 million from Bitmine (BMNR), $6.0 million from Bullish (BLSH), $1.9 million from Block (XYZ), and $1.3 million from Coinbase (COIN).
The strategy aligns with Ark’s long-established approach of buying stock weakness tied to broader crypto volatility, betting that cyclical downturns will eventually give way to renewed adoption and higher trading volumes. The latest dip buying trade follows purchases by Coinbase, Circle and Bullish of $21.5 million in late January, when bitcoin fell below $90,000.
It also aligns with CEO Cathie Wood’s recent argument that bitcoin can be a “good source of diversification” for investors, citing research from Ark showing that the token’s correlations with stocks, bonds and gold have historically been weaker than those assets’ correlations with each other.
