Cathie Wood’s asset management company ARK Invest increased its exposure to crypto-linked stocks despite this week’s stock market decline. In a trade notice shared with Cointelegraph on Monday, it was stated that shares of Robinhood (HOOD), stablecoin issuer Circle, Jack Dorsey’s Block Inc., digital asset manager BitMine (BMNR), crypto exchanges Coinbase, and Bullish were purchased. The purchases took place in the company’s ETFs, primarily ARK Innovation ETF (ARKK) and ARK Blockchain & Fintech Innovation ETF (ARKF); ARK Next Generation Internet ETF also increased exposure to crypto-linked stocks.
ARK Invest’s trades on Feb. 2. Source: Ark Invest
Largest Crypto Stock Purchases in ARKK ETF
The largest purchases in the ARKK ETF were 235.077 HOOD shares (approximately 21.1 million dollars) and 274.358 BMNR shares (approximately 6.2 million dollars). Crypto stocks started the week weakly; Robinhood and Circle fell by 10 percent and 8 percent respectively, BitMine by 9.16 percent, Bullish by 4.47 percent. Coinbase, Strategy, Metaplanet, and Galaxy Digital shares also declined. ARK ETFs have been under pressure in recent months; the firm made similar purchases last month as well.
Bitcoin’s Drop Below MicroStrategy’s Cost Basis
Bitcoin (BTC) fell below 80.000 dollars in February, marking the first time since April 2025 it has seen this level. Even more critically, BTC fell below MicroStrategy’s cost basis of 76.037 dollars for the first time since October 2023. This development is increasing market volatility, while ARK’s purchases are interpreted as bottom fishing. Check current data for detailed BTC analysis.
BTC Technical Analysis: RSI Oversold and Strong Supports
BTC, currently trading at 78.731 dollars, rose 2.66% in the last 24 hours but RSI at 29.35 is in oversold territory. The trend is downward, Supertrend bearish, EMA 20 is forming resistance at 85.676 dollars. Strong supports: S1 74.604 dollars (73/100 score, 5.29% away), S2 78.670 dollars (0.13% away). Resistances: R1 79.384 dollars (0.78% away), R2 83.548 dollars. These levels are key for potential recovery. Details on BTC futures here.
Is ARK Invest’s Strategy a Bottom Signal for the Market?
ARK’s these purchases reflect Cathie Wood’s long-term crypto optimism. Position increases despite weekly declines could give confidence to investors. The ongoing strategy despite pressure on the ETFs strengthens expectations for recovery in the Bitcoin spot market.
Source: https://en.coinotag.com/ark-invest-bought-crypto-stocks-during-market-downturn
