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Ark Invest purchased shares of Coinbase, Block, and Circle Internet Group across multiple ETFs this week as crypto-linked equities extended a month-long decline.
The buying spree, disclosed in Thursday trading filings, reflects CEO Cathie Wood‘s longstanding strategy of accumulating positions during sector downturns—what she calls “deep value entry points” in innovation-driven markets.
Crypto-linked stocks continued sliding this week, with Coinbase, Circle, Block, and other major industry names under sustained pressure.
Yet Ark Invest — known for its forward-leaning, high-risk innovation strategies — revealed in its latest trade filings that it has significantly expanded its positions during the downturn.
The investment giant purchased large blocks of Coinbase, Block, and Circle shares across multiple flagship ETFs. Most of the action occurred inside the Ark Innovation ETF (ARKK), where Coinbase remains one of the top holdings.
“Market fear has never stopped Ark from buying innovation,” said Tom Lee, Head of Research at Fundstrat, who has tracked Ark’s trading patterns for years. “Crypto-linked stocks falling is precisely the scenario where Wood increases exposure.”
Crypto-linked stocks were hammered by a broader market pullback sparked by thin liquidity, stagnant trading volumes, and widespread uncertainty around global economic conditions.
Coinbase shares fell again this week and remain down for the month. Circle continued sliding, deepening losses accumulated over the past four weeks.
Block managed to close slightly higher on Thursday but remains firmly negative for the month.
Bitcoin, meanwhile, is trading well below its record high set six weeks ago. Prices have stagnated, volumes are light, and macroeconomic ambiguity continues to weigh on investor sentiment — all of which directly impacts crypto-linked stocks.
“Until macro improves, the entire digital-asset sector will remain tied to risk sentiment,” said Michael Novogratz, CEO of Galaxy Digital, during a Wednesday appearance on Bloomberg TV. “Crypto-linked stocks tend to amplify that volatility.”
Ark’s filings show consistent and deliberate accumulation. Shares of Block, Circle Internet Group, and Coinbase were purchased during multiple sessions, suggesting a long-term conviction play rather than opportunistic one-day buying.
In addition to the Big Three, Ark Invest also acquired positions in Bullish, Robinhood Markets, and even its own Ark 21Shares Bitcoin ETF, expanding its overall footprint in the digital-asset sector.
According to analysts at Bloomberg Intelligence, Ark now appears to be “in full accumulation mode,” increasing exposure to crypto-linked stocks as valuations dip back to levels last seen several months ago.
For Ark, the pullback in crypto-linked equities represents more than market turbulence — it’s an opportunity.
In a recent investor note, Cathie Wood reiterated her belief that crypto infrastructure companies remain “dramatically undervalued relative to their long-term potential.” She added:
“Periods of fear often precede periods of explosive innovation. We invest where we believe the world is going, not where the crowd is right now.”
This philosophy has defined Ark’s approach to crypto-linked stocks, even when the sector faces steep short-term headwinds.
The downturn across crypto-linked stocks mirrors the cooling within the broader digital-asset space. Bitcoin and Ethereum remain subdued. Stablecoin flows have slowed. Retail trading remains muted.
Yet institutional interest — led by players like Ark — hasn’t vanished. In fact, high-conviction firms often treat these moments as building phases, laying groundwork before the next potential cycle.
Despite volatility, analysts say the long-term fundamentals for the stocks remain intact. Institutional adoption continues rising, ETF flows remain steady, and major tech firms are deepening blockchain integrations.
“Short-term weakness doesn’t erase long-term opportunity,” said Anthony Scaramucci, founder of SkyBridge Capital. “Crypto-linked stocks remain a high-beta way to gain exposure to the future of digital finance.”
