Ark Invest, led by CEO Cathie Wood, increased its positions in several crypto-related equities on Wednesday, capitalizing on a broad market selloff. The firm bought shares of Coinbase, stablecoin issuer Circle, and trading platform Robinhood, according to a trading disclosure.
The purchases come as Wood publicly stated that inflation is trending downward. She highlighted rising productivity as a key disinflationary force, a view that aligns with Ark's long-term bet on innovation-driven economic growth. The specific sizes of the acquisitions were not disclosed.
The buying spree occurred during a session when major indices fell, with the tech-heavy Nasdaq and S&P 500 both dropping. Ark's moves contrast with a cautious broader market, reflecting the firm's conviction in digital assets despite regulatory uncertainty.
Critics argue that Ark's aggressive buying during downturns has historically yielded mixed results, and that regulatory headwinds facing crypto firms could cap near-term upside. The firm's flagship ARKK ETF has also faced significant outflows this year.