ARK Keeps Stacking the Crypto Dip While Wall Street Sweats 🧊

ARK Invest, the asset manager led by Cathie Wood, added roughly $43.5 million in crypto-linked equities across three trading sessions through Monday, buying shares of Coinbase ($COIN), Circle ($CRCL), Bullish ($BLSH), Robinhood ($HOOD) and SoFi Technologies ($SOFI) while the broader market sold off. The buying came as CRCL, COIN and BLSH slid 27.6%, 16.9% and 26.3% respectively over the past month and Bitcoin ($BTC) touched a near two-year low of $58,190.

The firm purchased another 122,544 Coinbase shares worth about $18.6 million since Thursday, alongside 169,777 Circle shares valued at roughly $12.9 million over the same period, according to ARK Invest disclosures. ARK also added nearly $5.2 million in Bullish shares and $5.12 million in Robinhood shares, and bought $1.69 million of SoFi on Monday.

Most of the new positions were placed into the ARK Innovation ETF ($ARKK), with additional allocations to the ARK Next Generation Internet ETF ($ARKW) and the ARK Fintech Innovation ETF ($ARKF). On Monday alone, ARK acquired 45,164 Coinbase shares valued at approximately $6.85 million, according to the firm's disclosure.

ARK also expanded its stakes in Elon Musk's SpaceX and software intelligence platform Palantir ($PLTR) over the three-day stretch, while trimming positions in Alibaba ($BABA), Roku ($ROKU), Strata Critical Medical ($SRTA) and several other names. Earlier ARK trade disclosures dated June 25 showed the firm had already been accumulating the same crypto-linked tickers during the pullback, with purchases including 35,023 Robinhood shares at about $3.27 million and 9,014 Coinbase shares at roughly $1.28 million across ARKK, ARKW and ARKF on that day.

A separate ARK disclosure covering a broader session dated Friday priced those additions at approximately $25.54 million combined, including 68,366 Coinbase shares worth about $10.19 million at $149.06, 45,728 SpaceX shares worth about $7.01 million at $153.23, 78,756 Circle shares worth about $5.79 million at $73.57, 57,511 Bullish shares worth about $1.34 million at $23.29 and 12,269 Robinhood shares worth about $1.21 million at $98.69. Sentiment around the CLARITY Act passing before the November U.S. midterm elections has faded alongside the slide in crypto-linked equities.