Crypto Takes a Hit, ARK Invests: Major Wagers on Key Industry Leaders
- ARK Invest heavily buys crypto-linked stocks like Coinbase , Circle , and Bullish amid market declines, signaling sector resilience bets. - Purchases occur as Bitcoin drops below $90,000 and regulatory uncertainties persist, with ARK's "buy the dip" strategy targeting foundational crypto players. - Analysts highlight Circle's stablecoin leadership and Bullish's growth potential, despite post-earnings stock declines and broader crypto volatility. - Institutional moves like Canary Capital's XRP ETF and Kra
Cathie Wood's
These transactions took place while Coinbase and Circle shares saw little movement, with Coinbase ending the day down 0.82% at $261.79 and Circle edging up 0.013% to $76.60
ARK’s growing holdings in crypto-related stocks reflect larger trends in the market. For example, Circle posted $740 million in revenue and $214 million in net income for Q3—up 66% and 202% year-over-year, respectively—while also expanding its Arc blockchain platform
The firm’s recent activity also aligns with a surge in institutional interest in crypto infrastructure. Canary Capital, for instance, has launched a record-setting XRP ETF, while Kraken—a major industry player—has raised $800 million at a $20 billion valuation and is preparing to go public
ARK’s latest acquisitions indicate a deliberate shift toward foundational companies in the crypto space. “We view Circle as a dominant force in a market where the winner takes most,” wrote analysts at William Blair, pointing to the company’s strength in stablecoin infrastructure
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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