Cathie Wood Doubles Down on Crypto Stocks as Prices Slide Across the Market

• ARK Invest increased crypto stock exposure despite broad market price declines.
• Coinbase, Circle, and Bullish attracted fresh buying during sector weakness.
• Cathie Wood maintained conviction while trimming non crypto technology holdings.

Cathie Wood’s ARK Invest moved decisively into crypto-linked equities as market prices declined across the sector. According to daily trade disclosures, the firm increased exposure to several crypto-focused companies during the latest downturn. The activity reflected ARK’s willingness to buy into weakness rather than step aside during volatility.

According to the disclosures, the ARK Innovation ETF purchased 38,854 shares of Coinbase Global Inc. At the same time, the ARK Fintech Innovation ETF added 3,325 shares. Combined, the purchases amounted to about $9.4M in Coinbase stock. Shares of the exchange closed down 2.77% at $216.95 during the session.

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Additionally, ARK expanded its position in Circle Internet Group. The firm bought a combined 129,446 shares across ARKK and ARKF. The position was valued at roughly $9.2M based on market prices. Circle shares showed limited movement, slipping just 0.03% on the day.

Moreover, ARK increased exposure to Bullish by acquiring 88,533 shares across the same ETFs. The investment totaled about $3.2M. Bullish shares declined 2% and finished trading at $35.75, mirroring broader weakness across crypto-related equities.

However, the buying activity coincided with reductions in other portfolio areas. ARK trimmed its holding in Meta Platforms by selling 12,400 shares. The sale was valued near $8.03M. This shift highlighted ongoing portfolio rebalancing as ARK adjusted exposure across growth sectors.

Crypto-linked equities pressure performance but attract fresh capital

According to Cathie Wood, recent price weakness has not altered ARK’s longer-term view on digital assets. Still, the pullback has weighed on performance. Crypto-linked equities emerged as a key source of pressure across several ARK ETFs during the recent quarter.

Coinbase proved to be the largest detractor across ARKW, ARKF, and ARKK. According to ARK’s quarterly commentary, Coinbase shares declined more sharply than Bitcoin and Ether. Spot trading volumes on centralized exchanges fell 9% quarter-on-quarter following October’s liquidation event, adding pressure to exchange revenues.

Besides Coinbase, Roblox also weighed on ETF performance. Shares declined despite strong third-quarter bookings growth. The company warned of lower operating margins in 2026. Additional selling followed Russia’s decision to ban the platform, which further impacted sentiment.

Meanwhile, ARK maintained a constructive outlook on the broader crypto market. According to its Big Ideas 2026 report, the firm expects the digital asset market to grow to $28T by 2030. ARK projected a 61% compound annual growth rate, driven largely by Bitcoin adoption.

Furthermore, ARK estimated that Bitcoin could trade between $950,000 and $1M under its supply assumptions. The firm pointed to rising institutional participation. Bitcoin ETFs and corporate holders increased their share of total supply during 2025, reinforcing ARK’s conviction amid market weakness.

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