ARK Invest, managed by Cathie Wood, has continued its high-conviction purchasing strategy by increasing its holdings in core crypto-related companies. The firm committed over $93 million on November 25 alone to acquire additional shares in market participants such as Block, Circle Internet Group, Coinbase, and the exchange Bullish. These transactions extend a period of sustained accumulation as the broader digital asset sector faces a sharp market correction.
Here's every move Cathie Wood and Ark Invest made in the stock market today 11/25 pic.twitter.com/lSuVNsnaUF
— Ark Invest Tracker (@ArkkDaily) November 26, 2025
This accumulation challenges the narrative of broad panic, suggesting a deeper institutional conviction in the long-term fundamentals of these crypto-adjacent businesses. The investment firm is buying into weakness. Over the past month, Block has declined by over 20%, Circle has fallen more than 50%, and Coinbase has dropped by 30%. This sell-off in crypto equities has largely coincided with Bitcoin trading below the $88,000 level, a significant retreat from its recent peak near $126,000.
Portfolio Positioning and Competitive Context
The flagship ARK Innovation ETF (ARKK) was the primary vehicle for the recent purchases. Coinbase remains a top holding in ARKK, representing over 5% of the portfolio, with significant secondary allocations in Circle and Block. ARK’s strategy of doubling down on these assets during drawdowns is a hallmark of its focus on disruptive innovation, prioritizing future growth over near-term profitability metrics.
This high-risk, long-horizon approach distinguishes ARK from traditional institutional funds, which typically prioritize stability, lower volatility, and adherence to conventional valuation frameworks. ARK’s continued investment in platforms like Bullish and Coinbase signals a belief that these companies will ultimately define the future financial infrastructure. Earlier in November, the firm had already deployed another $42 million across Bullish, Circle, and BitMine Immersion Technologies, absorbing the sector’s decline.
The Strategy and Long-Term Horizon
Wood’s investment style, which embraces concentrated portfolios and a tolerance for extended drawdowns, has historically led to volatile performance, including exceptional returns in 2020 followed by significant declines in subsequent years. The current aggressive buying spree, which also includes increasing exposure to the firm’s own ARK-21Shares Bitcoin ETF, underscores a belief that current valuations present a compelling entry point for assets expected to deliver exponential growth over a five-to-ten-year horizon.
This consistent deployment of capital into a falling sector demonstrates an unwavering commitment to the long-term thesis that public blockchains and their enablers will profoundly evolve monetary and financial systems. The success of this strategy, however, remains dependent on the eventual turnaround and sustained recovery of the digital asset market, challenging traditional investors who prioritize risk-adjusted returns and diversification.