ARK's three funds collectively acquired 216,019 shares of the stablecoin issuer across ARKK, ARKW, and ARKF.
Crypto News
Cathie Wood's ARK Invest purchased shares across three crypto-exposed companies on Wednesday, capitalizing on sharp declines across the sector. The firm acquired $17.7 million in Circle shares, $16.9 million in Bullish stock, and $7.6 million in BitMine through its ARKK, ARKW, and ARKF exchange-traded funds.
Circle, which issues the USDC stablecoin, closed down 8.98% at $69.72 on the session. The company reported $214 million in net income during the third quarter, reflecting 202% year-over-year growth. ARK's three funds collectively acquired 216,019 shares of the stablecoin issuer across ARKK, ARKW, and ARKF.
Bullish, the crypto exchange backed by Peter Thiel, fell 3.63% to $36.39 despite posting strong fundamentals. The platform generated $18.5 million in net income for Q3, a significant turnaround from a $67.3 million loss in the same period last year.
However, digital asset sales declined to $41.6 billion from $54.2 billion year-over-year. ARK's buying spree included 463,598 Bullish shares across its three ETF vehicles.
BitMine Immersion Technologies, led by Tom Lee, dropped 9.6% to $29.18 but attracted ARK's attention nonetheless. The fund purchased 260,651 shares of the Ethereum treasury company, representing $7.6 million of the overall deployment. BitMine is scheduled to release its quarterly results on Nov. 21.
The broader crypto market pullback coincided with weakness in legacy equities. Bitcoin traded at $91,795, down roughly $4,700 from five days prior. This market environment appeared to signal a buying opportunity for ARK, which has maintained an active acquisition schedule throughout recent volatility.
ARK's conviction became evident through the scale and timing of these purchases. The firm had already deployed $10.2 million into BitMine the previous Monday as its stock price reached record lows. The recurring accumulation pattern demonstrates a systematic approach to deploying capital during downturns rather than reactive positioning.
The purchases reflect broader institutional interest in crypto infrastructure plays during periods of market stress. All three companies represent different angles on digital asset adoption, from payments infrastructure through Circle to exchange services via Bullish and treasury management through BitMine.
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