Cathie Wood’s ARK Invest has taken advantage of the recent crypto market pullback by increasing exposure to major crypto-related equities, signaling continued long-term conviction despite short-term volatility. As digital asset prices weakened, ARK strategically added positions in Coinbase, Circle, and Bullish, while trimming holdings in other technology names.
ARK Innovation ETF (ARKK) and ARK Fintech Innovation ETF (ARKF) collectively acquired more than $20 million worth of crypto-linked stocks. The largest addition was Coinbase, where ARK purchased over 42,000 shares, even as the stock declined nearly 3% in the session.
ARK also added over 129,000 shares of Circle, valued at roughly $9.2 million, and increased its position in Bullish with an investment of about $3.2 million. These purchases came as both stocks experienced modest declines, reflecting broader weakness across the crypto equity sector.
The fourth-quarter crypto downturn has weighed on ARK’s flagship ETFs, with Coinbase emerging as the largest performance drag. The decline was sharper than that of Bitcoin and Ether, driven by a 9% drop in centralized exchange trading volumes following a major liquidation event.
Despite near-term challenges, ARK maintains a bullish outlook, projecting the crypto market could reach $28 trillion by 2030. The firm expects Bitcoin to represent nearly 70% of total market value, implying a potential price range of $950,000 to $1 million as institutional adoption continues to rise.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.