Cathie Wood’s Ark Invest bought more than $75 million of crypto stocks in June
AI Market Summary
Cathie Wood's ARK Invest deployed over $75m into battered crypto equities in June, led by Coinbase, Circle, and Bullish, after the sector fell 20%–40% alongside Bitcoin's ~20% monthly drawdown. The purchases signal continued institutional appetite for crypto infrastructure risk despite weak price action, potentially stabilizing sentiment in listed crypto intermediaries and highlighting the link between BTC downside and crypto-equity beta.
Impact level
● Medium
Affected assets
NCSKCOIN2USD/USDT+1.14%
AI Insight · NCSKCOIN2USD/USDTAI Insight
● Neutral
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ARK Invest founder Cathie Wood bought more than $75 million U.S. worth of crypto-related stocks through her funds in June. The purchases included $44 million U.S. of Coinbase Global (NASDAQ: $COIN), $25.25 million U.S. of Circle Internet Group (NYSE: $CRCL), and $8.2 million U.S. of Bullish (NYSE: $BLSH). The buying came as Bitcoin (CRYPTO: $BTC) slid nearly 20% during the month to a 21month low of $58,000 U.S., while the stocks fell between 20% and 40%.
