
On Tuesday, Cathie Wood-led Ark Invest executed significant trades, including purchases of Circle Internet Group Inc. (NYSE:CRCL), Coinbase Global Inc. (NASDAQ:COIN), Robinhood Markets Inc. (NASDAQ:HOOD), ARK 21Shares Bitcoin ETF (BATS:ARKB), and Bitmine Immersion Technologies Inc. (NYSE:BMNR). These trades occurred as the cryptocurrency market faced extreme volatility, with major cryptocurrencies like Bitcoin experiencing notable declines.
Leading cryptocurrencies extended their selloff as Bitcoin (CRYPTO: BTC) slid below $73,000 to its lowest level since November 2024, triggering more than $750 million in liquidations amid “extreme fear” sentiment. The global crypto market cap fell to $2.59 trillion, while analysts flagged the possibility of a short-term relief rally despite deepening bearish expectations.
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Ark Invest’s ARK Innovation ETF (BATS:ARKK) and ARK Blockchain & Fintech Innovation ETF (BATS:ARKF) acquired 42,878 shares of Circle valued at approximately $2.4 million based on the closing price of $56.16.
Circle, the issuer of USDC (CRYPTO: USDC), saw its stock decline by 4.59% on the same day.
Ark Invest’s ARKF fund purchased 3,510 shares of Coinbase Global Inc , totaling approximately $630,606. Coinbase, a leading cryptocurrency exchange, experienced a 4.36% drop in its stock price, closing at $179.66.
Shares of Coinbase and other crypto-related companies traded lower after Bitcoin fell below $80,000 this week, pressured by a tightening U.S. liquidity environment that hit high-risk assets. The sell-off weighed on crypto equities as investors absorbed ETF losses and weakening market confidence across the sector.
ARKK, ARKF and ARK Next Generation Internet ETF (BATS:ARKW) funds collectively bought 89,677 shares of Robinhood, valued at around $7.8 million.
Robinhood shares slid sharply, down about 40% from their 52-week high, as a steep selloff pushed the stock into oversold territory despite weak momentum. ARK Invest bought roughly $32.7 million worth of shares, betting on a potential long-term boost from proposed “Trump Accounts” and a technical rebound.