TLDR
- ARK Invest purchased $21.1 million worth of Robinhood shares and $6.2 million in BitMine shares on Monday
- The firm bought shares across Circle, Block, Coinbase, and Bullish through its ARKK and ARKF ETFs
- Crypto stocks fell sharply on Monday with Robinhood down 10% and Circle down 8%
- Bitcoin dropped below $80,000 in February for the first time since April 2025
- Cathie Wood suggested gold’s recent rally could signal bitcoin’s next bull run
Get live prices, charts, and KO Scores from KnockoutStocks.com, the data-driven platform ranking every stock by quality and breakout potential.
ARK Invest made major purchases in crypto-related stocks on Monday as prices dropped across the sector. The asset manager bought shares worth over $44 million in companies including Robinhood, Circle, BitMine, and Bullish.
The purchases came through ARK’s exchange-traded funds. The ARK Innovation ETF (ARKK) and ARK Blockchain & Fintech Innovation ETF (ARKF) led the buying activity.
ARK bought 235,077 shares of Robinhood worth around $21.1 million at current prices. The firm also purchased 274,358 shares of BitMine valued at approximately $6.2 million.
Circle received $9.4 million in purchases across two ARK ETFs. The stablecoin issuer saw its stock price fall 7.9% on Monday to close at $58.86.
BitMine shares dropped 9% on Monday. The Ethereum treasury company has fallen 65% over the past six months according to The Block’s stock price data.
Crypto Stocks Drop Across the Board
ARK also bought $6 million worth of Bullish crypto exchange shares. The stock fell 4.7% on Monday.
Smaller positions included Block Inc. at $1.9 million and Coinbase at $1.25 million. Coinbase shares declined 3.5% on the same day.
Robinhood stock fell almost 10% on Monday. Circle dropped 8% while BitMine decreased 9.16% and Bullish fell 4.47%.
The stock declines mirror broader cryptocurrency market weakness. Bitcoin traded at $78,641 at the time of writing, down 10.9% over the past week.
Ether fell 20% during the same period to $2,331. Bitcoin dropped below $80,000 in February for the first time since April 2025.
Wood Points to Gold Rally
ARK’s ETFs have faced pressure over recent months. The market has struggled since the October crypto market crash.
This week’s purchases mark the second time ARK has increased crypto stock exposure during a downturn. The firm also bought shares late last month as the market tumbled.
ARK CEO Cathie Wood recently posted on X about gold’s price rally. She suggested it could signal bitcoin’s next bull run.
Wood wrote that the correlation between bitcoin and gold prices has been 0.14 since early 2020. She noted that gold’s price led the last two major bull moves in bitcoin during previous market cycles.
The ARK Next Generation Internet ETF also increased its crypto-related stock holdings. The purchases show ARK’s continued conviction in the crypto sector despite current price declines.
