Cathie Wood’s Ark Invest added to its holdings across three major crypto-linked companies on Wednesday, stepping in as share prices dipped across the sector.
According to the firm’s latest trade filing, the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF) bought a combined 216,019 shares of Circle Internet Group, 463,598 shares of Bullish, and 260,651 shares of BitMine Immersion Technologies. The purchases totaled more than $42 million.
All three stocks closed the day lower. Circle, the company behind the USDC stablecoin, fell nearly 9 percent to end at 69.72 dollars. Bullish, the crypto exchange supported by Peter Thiel, slipped 3.63 percent to finish at 36.39 dollars. BitMine dropped about 9.6 percent, closing at 29.18 dollars.
The declines echoed a wider pullback across the crypto market. Bitcoin was trading around 91,795 dollars, down from roughly 96,500 dollars five days earlier.
Still, recent earnings reports showed mixed signals across the companies. Bullish turned a profit in the third quarter with 18.5 million dollars in net income, a strong turnaround from a 67.3 million dollar loss a year ago. Its trading volumes fell from 54.2 billion dollars to 41.6 billion dollars over the same period. Circle reported 214 million dollars in third quarter net income, marking a 202 percent increase year over year. BitMine is set to release its next quarterly update on November 21.
Ark’s latest moves suggest continued confidence in the long term potential of crypto infrastructure players, even as markets sway in the short term. For now, investors will be watching upcoming earnings and broader market trends to see how the sector finds its footing.
