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

ETH1,34%
BTC2,35%

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.

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