Ark Invest Doubles Down on Crypto Stocks Amid Market Decline

Cathie Wood’s Ark Invest continued its aggressive push into crypto-related equities this week, scooping up significant shares in both Bullish and Robinhood despite a broad sell-off across the sector.

According to the firm’s latest disclosure, the ARK Innovation ETF (ARKK) purchased 356,346 shares of Bullish worth $21.2 million and 150,908 shares of Robinhood valued at $16.2 million on August 19. The move comes even as both stocks closed sharply lower on the same day.

Bullish, which only recently debuted on the New York Stock Exchange, ended Tuesday down 6.09% at $59.51, slipping a further 3.24% in after-hours trading. Robinhood shares fell 6.54% to $107.50, with an additional 1.23% decline after the close.

ARK’s Plan to build Exposure Despite Short-Term Losses

The latest transactions highlight Ark Invest’s determination to build long-term exposure to companies shaping the digital asset landscape.

Just last week, Ark made headlines by acquiring $172 million worth of Bullish shares across three ETFs following the exchange operator’s blockbuster IPO. The ARK Innovation ETF now holds over 1.16 million Bullish shares valued at roughly $73.85 million.

Ark’s growing stake in Robinhood has also been consistent. This marks the third consecutive day of Robinhood purchases, following buys of $14 million on Monday and $9 million on Friday. With this latest addition, Robinhood now represents 4.09% of the ARKK portfolio, underscoring its role as a core crypto-adjacent holding.

Wider Crypto Market Under Pressure

The purchases came as crypto-linked stocks slumped across the board. Coinbase Global dropped 5.82%, Galaxy Digital fell 10.06%, Strategy declined 7.43%, and Circle slipped 4.49%. The downturn mirrored weakness in broader equities, with the Nasdaq Composite closing down 1.46%.

Despite short-term volatility, Ark Invest’s strategy aligns with broader industry momentum. Several major crypto firms, including Gemini and OKX, are preparing public listings, while Ark itself holds sizable positions in Coinbase, Circle, and eToro.

Cathie Wood’s consistent buying signals conviction that digital asset infrastructure will play a defining role in future financial markets. While prices may fluctuate, Ark’s latest moves reflect a belief that today’s volatility could pave the way for long-term growth.