Cathie Wood Doubles Down on Crypto Equities as Bitcoin and Ethereum Slide
Cathie Wood – On Monday, Cathie Wood’s Ark Invest made a strategic move in the crypto-related equity space, increasing its exposure to major players like BitMine, Coinbase, Circle, Block, and Bullish. According to Ark’s latest trade filing, the firm purchased $17 million in BitMine shares, $16.26 million in Coinbase shares, and $10.8 million in Circle Internet Group, all through three of its ETFs — ARKK, ARKW, and ARKF.
Additionally, Ark Invest acquired $5.94 million in Block Inc., $5.2 million in Bullish exchange shares, and $1.24 million in its Ark-21Shares Bitcoin ETF. These acquisitions came on a day when all six holdings recorded declines.
Market Declines Don’t Slow Ark
Monday’s trading session was challenging for crypto markets. BitMine, the world’s largest Ethereum treasury company, fell 11.22%, closing at $30.95. Coinbase dropped 6.37% to $250.42, while Circle declined 9.60% to $75.46. Shares of Block and Bullish slipped 1.13% and 2.55%, respectively. Ark’s spot Bitcoin ETF also saw a 4.91% drop.
The broader cryptocurrency market mirrored these losses. Bitcoin slid 4.08% to $85,799, while Ethereum fell 5.74% to $2,931 as of 11:10 p.m. Monday.
Wood Stays Bullish on Tech-Driven Deflation
Earlier this month, Ark Invest CEO Cathie Wood reiterated during a webinar that the firm is observing “undercurrents of deflation” linked to emerging tech innovations. Wood suggested that these trends could contribute to a “real break” in inflation in the year ahead, underscoring her long-term confidence in technology and crypto-related investments.
Even amid a temporary market dip, Ark Invest’s bold moves highlight its continued faith in crypto equities and the broader tech sector, keeping investors and analysts watching closely.
