Cathie Wood's ARK Purchases Circle, Bullish and BitMine Amid Price Declines
Cathie Wood's ARK Invest acquired $39 million in crypto-related stocks on Wednesday as prices declined across the sector. According to Cointelegraph, the firm purchased shares in Bullish, Circle Internet Group and BitMine Immersion Technologies across multiple ETFs. The ARK Innovation ETF bought 322,917 shares of Bullish for $16.8 million. The same fund added 150,518 shares of Circle for $15 million. ARK also acquired 181,774 shares of BitMine for $7.6 million through ARKK.
The purchases occurred while crypto stocks experienced losses on November 20, 2025. Bullish fell 3.63 percent to $36.39. Circle closed down 8.98 percent at $69.72. BitMine dropped 9.5 percent to $29.18. Strategy, the Bitcoin treasury firm led by Michael Saylor, declined 9.82 percent during the session. CoinDesk reported the total purchases reached $39.6 million across all three companies. These acquisitions represent part of a week-long buying pattern by ARK Invest. The firm purchased $10.2 million worth of BitMine shares on Monday as prices hit record lows.
Strategic Buying During Price Weakness
The Wednesday purchases demonstrate ARK's pattern of acquiring assets during market downturns. The firm targets companies with long-term potential when prices decline. This approach allows ARK to increase positions at lower valuations. The strategy reflects confidence in the crypto sector's future growth despite short-term volatility. Circle operates as the issuer of the USDC stablecoin. The company provides infrastructure for digital dollar transactions. Bullish runs a crypto exchange backed by Peter Thiel. The platform processed over $1.5 trillion in cumulative trading volume since 2021. BitMine holds the largest public Ethereum treasury. The company owns 3.5 million ETH valued at more than $11 billion.
ARK's buying activity comes as the broader crypto market retreats from October 2025 highs. The purchases add exposure to three distinct crypto business models. This diversification spreads risk across stablecoin infrastructure, exchange operations and digital asset treasuries. We previously reported that Bitcoin treasury companies faced net asset value challenges in September 2025, with 25 percent trading below their BTC holdings value. This context makes ARK's continued accumulation during weakness notable. The firm maintains conviction in crypto-focused businesses while others reduce exposure.
Institutional Investment Patterns Shift
ARK's purchases contrast with broader institutional trends in November 2025. Many institutional investors reduced crypto exposure during recent market volatility. The firm's actions suggest some investors view current prices as entry points. This divergence in institutional behavior reflects different investment timeframes and risk tolerances. The crypto stock sector faces pressure from multiple sources. Bitcoin's retreat from October peaks above $111,000 affects companies holding digital assets. Rising interest rates reduce appeal of growth-oriented technology stocks. Regulatory uncertainty continues to affect investor sentiment toward crypto companies.
Despite these headwinds, ARK continues deploying capital into the sector. The firm's three ETFs coordinate purchases across similar targets. This coordinated approach concentrates positions in selected companies. The strategy requires confidence that chosen companies will outperform peers long-term. The November 20 buying session occurred alongside positive news from traditional tech. Nvidia reported $57 billion in revenue and $31.9 billion in profit. The chipmaker forecast $65 billion in fourth-quarter revenue. These results lifted sentiment across technology stocks in after-hours trading.
The intersection of traditional tech strength and crypto weakness creates mixed signals. Some investors may rotate from crypto stocks into traditional technology. Others may view crypto stock declines as temporary dislocations. ARK's actions indicate belief in the latter interpretation. The firm's purchases total over $70 million in crypto stocks during November 2025. This sustained accumulation during price weakness represents a clear position. The outcome will depend on whether crypto markets recover or continue declining.
