Cathie Wood Buys $20 Million in Coinbase and Circle Stock During Bitcoin Decline

TLDR ARK Invest bought $1.3 million in Coinbase shares, $8.7 million in Circle stock, and $6 million in BitMine on February 3 Cathie Wood added 125,218 Bullish shares and 135,131 ARK Bitcoin ETF shares as crypto markets declined Bitcoin dropped below $70,000 on February 5, losing 7.8% in 24 hours and hitting lows not seen since November 2024 Coinbase now represents 5.55% of ARK’s blockchain ETF, making it the third largest holding Crypto market liquidations exceeded $750 million as sentiment reached extreme fear levels Cathie Wood is adding crypto stocks to her portfolio during the market decline. ARK Invest purchased millions of dollars in cryptocurrency-related companies this week. The buying spree happened as Bitcoin fell to its lowest level in months. ARK Invest bought shares in multiple crypto firms on February 3. The purchases included Coinbase, Circle, BitMine Immersion Technologies, and Bullish exchange. Wood’s investment firm spent $1.3 million on 3,510 Coinbase shares. Coinbase Global, Inc., COIN Circle received $8.7 million in investment from ARK across two funds. The ARKK fund purchased 34,342 shares while ARKF added 8,536 shares. Circle operates as the issuer of USDC stablecoin. Wood’s firm invested $6 million in BitMine stock, buying 145,488 shares. BitMine started as a Bitcoin mining company but now holds Ethereum in its treasury. Tom Lee serves as chairman of the company. ARK purchased 125,218 shares of Bullish worth $3.5 million. Bullish operates as a regulated cryptocurrency exchange with backing from Block.one. PayPal co-founder Peter Thiel invested through Thiel Capital in early funding rounds. The firm bought 135,131 shares of its own ARK 21Shares Bitcoin ETF. This purchase totaled approximately $3.4 million in value. The ETF provides direct exposure to Bitcoin price movements. Wood Continues Buying Crypto Stocks ARK Invest added more shares on February 4. The ARK Innovation ETF purchased 83,094 Bullish shares. The fund also bought 14,868 Cir...