Ark Invest Buys Circle, Bullish, and Robinhood in Fresh Crypto Equity Push

Cathie Wood’s Ark Invest increased its exposure to crypto equities on Wednesday, initiating new positions in Bullish and Circle while adding to its existing stake in Robinhood.

The trades, disclosed in Ark’s latest filings, underscore the firm’s ongoing conviction in companies closely tied to digital assets.

Key Points

• Ark purchased 364,044 shares of Bullish across three ETFs, worth roughly $11.6 million.
• The firm has added to Bullish for 10 consecutive trading days, indicating a steady accumulation strategy.
• Ark acquired 75,559 shares of Circle, valued at approximately $4.4 million.
• The firm increased its Robinhood holdings by 433,806 shares, valued at approximately $33.8 million.

Ark Deepens Position in Bullish

The largest share of new capital flowed into Bullish. Ark purchased 364,044 shares of the Peter Thiel-backed crypto exchange across three exchange-traded funds, a buy worth roughly $11.6 million based on Wednesday’s closing price.

Notably, this marks the tenth consecutive trading day that Ark has expanded its stake in Bullish. The steady accumulation suggests a consistent strategy rather than a one-off allocation.

Bullish shares have been volatile in recent days. The stock closed at $24.90 on February 9, its lowest recent finish. Since then, the shares have rebounded 28.3% over five days. Despite that recovery, the stock dipped 0.5% on Wednesday, closing at $31.88, according to Yahoo Finance.

Ark’s portfolio framework helps explain these adjustments. The firm limits any single holding to no more than 10% of a fund’s assets. Consequently, positions are often recalibrated when price movements shift portfolio weightings.

Circle and Robinhood See Additional Investment

Beyond Bullish, Ark also directed capital toward other crypto-linked names. The firm acquired 75,559 shares of Circle, the issuer of the USDC stablecoin, in a transaction valued at about $4.4 million.

Circle’s shares declined 3.2% on Wednesday, ending the session at $57.86. Although the stock has risen 7.8% over the past five days, it remains down 30% over the past month. This mixed performance comes amid broader volatility in digital asset markets.

At the same time, Ark expanded its Robinhood position by purchasing 433,806 shares valued at approximately $33.8 million, reinforcing its exposure to retail-focused crypto and equities trading platforms.

Market Context and Crypto Prices

Meanwhile, these purchases took place amid subdued trading in broader U.S. equity markets. On Wednesday, the Dow Jones Industrial Average slipped 0.13%, the Nasdaq Composite declined 0.16%, and the S&P 500 finished largely unchanged.

In contrast, major cryptocurrencies moved higher. Bitcoin rose 1.6% over 24 hours to $67,884, while Ethereum gained 2% to trade at $1,983.