ARK Invest scoops $10M in Bullish as it hits record low amid crypto stock rout

Cathie Wood’s ARK Invest ramped up its vulnerability to crypto speech Bullish connected Monday, buying $10.2 cardinal worthy of shares arsenic its banal slid to a caller grounds debased during a brutal downturn for publically traded crypto firms.

According to ARK’s regular commercialized disclosure, the ARK Innovation ETF (ARKK) added 191,195 Bullish shares, portion ARKW bought 56,660. The ARKF money besides picked up 29,208 shares.

The determination comes arsenic Bullish (BLSH) tumbled 4.5% to $36.75 connected Monday, extending a months-long descent that has pushed the banal down astir 46% implicit the past six months.

The buying besides comes conscionable 1 time up of Bullish’s third-quarter net report, which is expected connected Wednesday. The exchange, backed by Peter Thiel, posted $57 cardinal successful adjusted revenue during Q2, down from $67 cardinal a twelvemonth prior, though it swung to a nett income of $108.3 cardinal compared to a $116.4 cardinal nonaccomplishment past year.

Bullish shares deed a grounds debased since launch. Source: Google Finance

Related: ARK Invest Adds BitMine and Bullish Shares arsenic Prices Drop

Crypto stocks descend amid marketplace clang

Crypto-linked equities person faced a crisp pullback amid the caller marketplace crash. Mining giants and infrastructure firms person been deed particularly hard. Marathon Digital (MARA) dropped 4% connected Monday and has struggled to regain momentum aft a dependable diminution passim the past week. Riot Platforms (RIOT) and CleanSpark (CLSK) besides finished successful the red.

Michael Saylor-led Bitcoin treasury institution Strategy dropped 2% yesterday and has fallen much than 18% implicit the past 5 trading sessions.

Stablecoin issuer Circle (CRCL), which went nationalist earlier this year, besides ended the time down by much than 6%. The institution is down much than 26% implicit the past 5 trading days.

Circle drops much than 6%. Source: Yahoo! Finance

Coinbase, the largest US crypto exchange, was not spared. COIN closed down 7% astatine $263.95 aft sliding steadily passim the session, reflecting broader selling crossed hazard assets.

Related: Cathie Wood’s ARK Buys The Dip With $46M Circle Stake

Bitcoin nearing a bottom, accidental Tom Lee and Matt Hougan

Bitcoin (BTC) whitethorn beryllium approaching a marketplace bottom arsenic soon arsenic this week, according to BitMine president Tom Lee and Bitwise main accusation serviceman Matt Hougan.

Lee cited lingering anxiousness from the Oct. 10 liquidation question and uncertainty implicit whether the Federal Reserve volition chopped rates successful December arsenic the crushed down the marketplace rout. He said method signals constituent to exhaustion successful the sell-off, referencing insights from Tom Demar of Demar Analytics.

Hougan echoed the view, calling the existent terms scope a “generational opportunity” for semipermanent investors. He attributed the downturn to ETF outflows, whale selling, geopolitical tension, nervousness astir AI valuations and concerns tied to President Trump’s tariff policies.

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