ARK Invest buys 104 billion won worth of crypto-related stocks during a market correction

With Bitcoin (BTC) entering a period of heightened volatility, ARK Invest led by Cathie Wood has been seen buying a large amount of crypto-related equities.

According to crypto-focused media outlet CoinDesk on the 3rd, ARK Invest recently purchased about $72 million (about 10.41 billion won) worth of crypto-related stocks through its major funds such as ARKF, ARKK and ARKW. The buying came as Bitcoin briefly slipped below $75,000 and the broader complex of related names weakened.

In the latest transactions, ARK Invest increased its exposure across exchanges, brokers and infrastructure companies. Daily disclosures show Robinhood and CoreWeave accounted for the largest portions, while Circle Internet, Coinbase, Bullish, BitMine Immersion Technologies, Block and others were also included.

On an aggregated, fund-by-fund basis, the additions amounted to about $32.7 million of Robinhood shares, about $14.6 million of CoreWeave, about $9.4 million of Circle, about $6.3 million of BitMine, about $6.0 million of Bullish, about $1.9 million of Block and about $1.3 million of Coinbase.

Market participants say the purchases reaffirm ARK Invest’s existing investment playbook. ARK Invest has repeatedly used price weakness in related stocks during crypto-market pullbacks as a buying opportunity. In fact, when Bitcoin fell below $90,000 in late January, it also bought about $21.5 million worth of Coinbase, Circle and Bullish shares.

Meanwhile, Cathie Wood recently emphasized Bitcoin’s role in portfolios, saying, "Bitcoin is an asset that can provide diversification benefits because it has a low correlation with traditional assets." ARK Research also said, "Historically, Bitcoin has shown price movements that differ from stocks, bonds and gold," adding that "after periods of volatility, broader adoption and a rebound in trading activity tend to re-emerge."