True to its disruptive investing philosophy, Cathie Wood’s Ark Invest went bargain-hunting on Wednesday, spending $42.2 million to buy the dip in several prominent crypto stocks.
As a market-wide slump hammered digital asset prices, Ark’s ETFs snapped up shares of Circle, Bullish, and BitMine—companies that saw their values fall between 3.6% and 9.6% for the day.
This aggressive accumulation highlights Ark’s conviction in its picks, even for a company like Bullish which presented a mixed picture; it reported a return to profitability in Q3, though its trading volume declined.
The move signals a strong belief that the current downturn is a temporary setback for the long-term trajectory of these crypto infrastructure players.
