Ark Invest bought more shares in Circle, Bitmine, Bullish, and other crypto stocks amid continued price declines.
According to its trade filing, Ark Invest purchased $9.4 million worth of Circle shares across two exchange-traded funds on Monday. It also bought $6.25 million worth of shares in Ethereum treasury firm Bitmine, and $6 million in Bullish crypto exchange.
The asset manager also added smaller positions in Block Inc. and Coinbase, totaling $1.9 million and $1.25 million, respectively.
Ark appears to be demonstrating continued conviction in crypto by expanding its exposure to these companies trading at significant discounts alongside the crypto market decline.
According to The Block’s stock price page, Circle closed down 7.9% on Monday at $58.86, falling 65% over the past six months. Tom Lee-led Bitmine dropped 9% on Monday, while Bullish fell 4.7%. Coinbase saw a 3.5% decline on the same day.
The pullback in these crypto-linked stocks mirrors a broader decline in the crypto market. Bitcoin was trading at $78,641 at the time of writing, down 10.9% in the past week. Ether fell 20% during the same period to $2,331.
Ark Invest CEO Cathie Wood recently indicated on X that gold’s recent price rally could be a precursor to bitcoin’s next bull run.
“Important to note is that the correlation between the bitcoin and gold prices has been 0.14 since early 2020, and that the gold price led the last two significant bull moves in the bitcoin price in the last two major cycles,” Wood wrote.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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