Cathie Wood’s ARK Invest boosted its exposure to crypto-linked equities on Wednesday, buying Bullish, Circle Internet Group and BitMine Immersion Technologies across several of its exchange-traded funds (ETFs) as crypto stocks deepened their decline.
ARK’s daily trade report shows the ARK Fintech Innovation ETF (ARKF) picked up 48,011 shares of Bullish, while the ARK Next Generation Internet ETF (ARKW) added 92,670 shares. The ARK Innovation ETF (ARKK) made the largest purchase, acquiring 322,917 Bullish shares for a combined total of roughly $16.8 million.
The firm also made sizable additions to its Circle Internet Group holdings, the company behind USDC. ARKF purchased 22,327 shares, ARKW added 43,174, and ARKK accumulated 150,518—amounting to about $15 million in new exposure to the stablecoin issuer.
ARK rounded out the day with fresh buys of BitMine Immersion Technologies. ARKF acquired 26,923 shares, ARKW bought 51,954 and ARKK added 181,774, bringing total purchases to around $7.6 million.
Crypto stocks continue to slide
The buying spree came as crypto-exposed stocks broadly weakened alongside a market pullback from October highs.
Bullish ended the session down 3.63% at $36.39, extending its recent decline before recovering slightly in after-hours trading. Circle fell nearly 9% to close at $69.72, while BitMine dropped 9.5% to $29.18, though the miner later clawed back more than 6% after hours.
Michael Saylor–led Bitcoin treasury firm Strategy was hit even harder in Wednesday’s downturn, sliding 9.82% before clawing back some losses in after-hours trading.
ARK’s latest moves cap a week-long crypto buying spree as digital asset prices continue to tumble. On Monday, the firm snapped up another $10.2 million worth of BitMine shares as the stock fell to a fresh all-time low.
Nvidia posts blowout earnings
As reported by Cointelegraph, Nvidia delivered another blockbuster quarter on Wednesday, posting $57 billion in revenue and $31.9 billion in profit, handily beating Wall Street estimates. The company also issued a strong fourth-quarter revenue forecast of $65 billion, easing weeks of market jitters about whether AI demand was beginning to cool.
The upbeat results lifted sentiment across tech and crypto-linked equities. Nvidia shares jumped more than 5% in after-hours trading, with the momentum spilling into Big Tech—Apple, Microsoft, Alphabet, Amazon and Meta all recorded after-hours gains.
