Cathie Wood’s Ark Invest used Thursday’s pullback in crypto-related stocks as a buying opportunity, adding to positions in Coinbase, Circle, Bullish and Robinhood across its ETFs.
Daily filings show Ark bought 9,014 shares of Coinbase across ARK Innovation (ARKK), ARK Next Generation Internet (ARKW) and ARK Fintech Innovation (ARKF), a stake valued at roughly $1.28 million based on Coinbase’s $142.52 close. The firm also added 9,264 shares of Circle (~$637,455) and 9,136 shares of Bullish (~$199,895). Through ARKK, Ark purchased another 35,023 Robinhood shares, worth about $3.27 million.
All four names were trading lower on Thursday: Coinbase slipped 5.06%, Circle fell 3.06%, Robinhood dropped 3.83% and Bullish plunged 6.77%. Ark’s moves continue a clear pattern of increasing exposure after sharp pullbacks.
Ark manages its ETFs with a policy that limits any single holding to no more than 10% of a portfolio, and rebalances periodically as prices move. The firm has repeatedly taken advantage of dips in recent weeks. Last week it bought roughly $18.4 million of Coinbase after the stock had fallen nearly 13% over the prior month, even as it sold nearly $29 million of Robinhood when that brokerage was trading near multi-month highs. In May, Ark accumulated more than $4.4 million of Bullish over two sessions after five straight down days; Bullish’s Q1 results showed a $604.9 million net loss even as adjusted revenue climbed to $92.8 million.
Ark has been active beyond crypto names: earlier this week it purchased about $32.5 million of SpaceX shares after the stock slid more than 16% from its post-listing peak — on top of roughly $444.3 million in SpaceX purchases made around the company’s Nasdaq debut on June 12.
On a related note, Wood has been speaking with investors on a roadshow through Asia and Europe, where she says inflation remains a dominant concern. In a thread on X, she argued inflation could ease faster than many expect, pointing to unit labor costs she says are down to 0.5% year over year and highlighting productivity gains as a key disinflationary force. Wood also suggested former Fed governor Kevin Warsh appreciates productivity’s role in taming inflation and criticized official inflation metrics, adding that Warsh “will give the financial markets a master class in monetary policy.”
For crypto markets and exchange operators, Ark’s latest buys underscore an appetite among major active managers to double down on industry exposure when prices wobble.
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