Cathie Wood’s ARK Buys $39 Million in Circle, Bullish and Bitmine Stocks

TLDR

• Cathie Wood’s ARK Invest purchased over $39 million in Bullish, Circle, and BitMine shares on Wednesday
• The largest buy was 463,598 Bullish shares worth $17.5 million spread across three ETFs
• ARK bought $16.5 million in Circle stock and $8.4 million in BitMine shares
• Purchases came as crypto stocks fell sharply, with Circle down 9% and BitMine down 9.5%
• ARK sold $16.6 million in AMD stock as part of portfolio rebalancing

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Cathie Wood’s ARK Invest made major purchases of crypto-related stocks on Wednesday, spending over $39 million across three exchange-traded funds. The buying spree happened as crypto stocks dropped throughout the trading day.

ARK bought 463,598 shares of Bullish for $17.5 million. The purchases were split between the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). ARKK made the largest single purchase with 322,917 shares.

Bullish, BLSH

The firm also purchased 216,019 shares of Circle Internet Group for $16.5 million. Circle is the company that issues the USDC stablecoin. The shares were bought across the same three ETFs, with ARKK adding 150,518 shares.

ARK added 260,651 shares of BitMine Immersion Technologies worth $8.4 million. ARKK purchased 181,774 shares while ARKF and ARKW split the remainder.

The purchases came on a day when crypto stocks fell across the board. Bullish closed down 3.63% at $36.39. Circle ended the session down nearly 9% at $69.72.

Circle Internet Group, CRCL

BitMine finished trading down 9.5% at $29.18. The stock recovered more than 6% in after-hours trading. Strategy, the Bitcoin treasury company led by Michael Saylor, dropped 9.82% during regular trading hours.

Continued Buying Trend

ARK has been buying crypto stocks throughout the past week as prices declined. On Monday, the firm purchased $10.2 million worth of BitMine shares. The stock had hit a new record low at that time.

The Wednesday purchases show ARK’s continued confidence in crypto-related companies. The firm bought shares even as the broader crypto market retreated from its October highs.

Portfolio Changes

ARK sold 72,215 shares of Advanced Micro Devices (AMD) worth $16.6 million on Wednesday. The sale was spread across ARKK, ARKW, and ARKF. This continues a recent trend of reducing AMD holdings.

The firm also sold shares of other tech companies. ARK offloaded 54,280 shares of Teradyne for $8.9 million. It reduced Natera holdings by 40,676 shares totaling $8.7 million.

ARK continued selling Pinterest stock, offloading 29,753 shares for $766,734. The firm has been consistently reducing its Pinterest position over the past week.

Other sales included 45,450 shares of Iridium Communications for $734,017. ARK also sold 24,338 shares of Reddit valued at $4.5 million.

On the buying side, ARK made smaller purchases of other stocks. The firm acquired 6,483 shares of Klarna Group for $205,057. It also bought 14,985 shares of Shopify for $2.1 million.

Market Context

Nvidia reported earnings on Wednesday with $57 billion in revenue and $31.9 billion in profit. Both numbers exceeded Wall Street expectations. The chip maker forecast $65 billion in revenue for the fourth quarter.

Nvidia shares jumped more than 5% in after-hours trading. The positive earnings boosted sentiment across tech and crypto-linked stocks. Major tech companies including Apple, Microsoft, Alphabet, Amazon, and Meta all posted after-hours gains.

ARK’s trades reflect a shift in portfolio strategy with large investments in crypto-related companies. The firm reduced positions in some established tech holdings while adding to emerging technology stocks.

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