Cathie Wood strikes again: Ark invests over $20 million to increase holdings in Bitmine and Bullish, betting on a reversal after the decline in crypto assets
February 13 News, Ark Invest, founded by Cathie Wood, has once again increased its holdings in cryptocurrency-related stocks, contrarily deploying during a period of market downturn. According to disclosed data, Ark purchased a total of 212,314 shares of Ethereum treasury company Bitmine through three ETFs, approximately $4.2 million based on the closing price of the day. Bitmine rose slightly by 1.4% to $19.74 that day, but has declined by 36.7% over the past month.
On the same day, Ark also increased its holdings by 74,323 shares of Bullish stock, worth about $2.4 million. This marks the 11th consecutive trading day Ark has added to this position. Bullish closed down 0.5% at $31.71, with a nearly 18% decline over the past 30 days. Additionally, Ark bought approximately 174,767 shares of Robinhood for about $12.4 million, which dropped 8.9% on the day, with its monthly decline expanding to 40%.
Ark’s investment portfolio adheres to a risk control rule that no single position exceeds 10%, so during periods of increased volatility, the fund often adjusts its holdings continuously to maintain structural stability. Currently, Bullish has become the ninth-largest holding in its ARKF fund, with a weight of about 3.4% and a market value approaching $30 million. Ark also holds significant positions in several crypto-related companies, including Circle, Block, and COIN.
From a macro perspective, major U.S. stock indices declined across the board on the same day, with the Dow Jones, Nasdaq, and S&P 500 all experiencing notable pullbacks. In the digital asset space, Bitcoin hovered around $66,700, and Ethereum approached $1,960, both near multi-year lows.
Against the backdrop of simultaneous pressure on traditional and crypto markets, Ark’s continuous accumulation is interpreted by some investors as an early move toward a cyclical recovery in crypto assets. Market watchers will next focus on whether prices form new support levels at the lows, potentially providing new directional signals for risk assets.
Related Articles
Ripple Mints 20 Million RLUSD on Ethereum to Bolster Stablecoin Liquidity - U.Today
ETF Capital Rotates as XRP and SOL ETFs Gain Ground While BTC and ETH Holdings Decline
Bitcoin, Ethereum and Solana ETFs Record Positive Net Inflows on February 27
70% of assets heavily invested in Bitcoin! Mexican billionaire urges "buy quickly during the dip," and the wealthy dad is also increasing his holdings
USDT Reserves Drastically Drop, Analysts Sound Warning