ARK Invest Loads Up on Bullish, Bitmine and Circle Stocks During Crypto Selloff

TLDR

• ARK Invest purchased $39 million in crypto stocks on Wednesday during market decline
• Bullish received largest investment at $17.5 million across three ARK ETFs
• Circle Internet Group saw $16.5 million investment, BitMine got $8.4 million
• Crypto stocks dropped sharply with Circle falling 9% and BitMine down 9.5%
• ARK sold $16.6 million in AMD shares while accumulating crypto positions

ARK Invest made substantial purchases of crypto-related equities on Wednesday, acquiring more than $39 million in shares as the sector experienced widespread declines. The investment firm led by Cathie Wood deployed capital across three of its exchange-traded funds.

The largest purchase focused on Bullish, with ARK acquiring 463,598 shares valued at $17.5 million. The ARK Innovation ETF (ARKK) purchased 322,917 shares, while the ARK Next Generation Internet ETF (ARKW) added 92,670 shares. The ARK Fintech Innovation ETF (ARKF) bought 48,011 shares.

Bullish, BLSH

Circle Internet Group received the second-largest investment from ARK. The firm purchased 216,019 shares worth $16.5 million. ARKK acquired 150,518 shares, ARKW added 43,174 shares, and ARKF purchased 22,327 shares.

ARK also increased its position in BitMine Immersion Technologies. The firm bought 260,651 shares totaling $8.4 million. ARKK led with 181,774 shares, while ARKW purchased 51,954 shares and ARKF added 26,923 shares.

Crypto Stocks Drop During Trading Session

Wednesday proved difficult for crypto-related stocks. Bullish closed down 3.63% at $36.39 per share. The stock recovered slightly during after-hours trading.

Circle Internet Group fell nearly 9% during the session, closing at $69.72. BitMine Immersion Technologies dropped 9.5% to finish at $29.18. BitMine recovered more than 6% in after-hours trading.

Circle Internet Group, CRCL

Strategy, the Bitcoin treasury firm led by Michael Saylor, dropped 9.82% during regular hours. The company later recovered some losses in after-hours trading.

ARK Continues Recent Buying Pattern

The Wednesday purchases continue ARK’s recent trend of accumulating crypto stocks during price declines. On Monday, ARK bought $10.2 million in BitMine shares when the stock reached a new record low.

The firm has maintained its buying activity throughout the past week. The crypto market has retreated from October highs, creating opportunities for ARK to add positions.

ARK simultaneously reduced holdings in traditional tech stocks. The firm sold 72,215 shares of AMD worth $16.6 million. The sale was distributed across ARKK, ARKW, and ARKF.

Additional sales included 54,280 shares of Teradyne for $8.9 million and 40,676 shares of Natera totaling $8.7 million. ARK offloaded 29,753 Pinterest shares for $766,734, continuing a week-long selling pattern.

The firm also sold 45,450 Iridium Communications shares for $734,017 and 24,338 Reddit shares valued at $4.5 million. Smaller purchases included 6,483 Klarna Group shares for $205,057 and 14,985 Shopify shares for $2.1 million.

Tech Sector Context

Nvidia reported quarterly earnings on Wednesday, posting $57 billion in revenue and $31.9 billion in profit. Both figures exceeded analyst expectations. The company forecasted $65 billion in fourth-quarter revenue.

Nvidia shares jumped more than 5% in after-hours trading following the announcement. The positive results lifted sentiment across tech and crypto-linked equities. Apple, Microsoft, Alphabet, Amazon, and Meta all posted gains in after-hours trading.

ARK’s Wednesday transactions total $39.4 million in crypto stock purchases against $16.6 million in AMD sales. The trading activity reflects the firm’s strategic shift toward crypto-related companies while trimming positions in established semiconductor stocks.

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