Cathie Wood’s Ark Invest Adds More Robinhood, Coinbase, Bitmine Shares In Crypto Dip Buying Spree

The purchases followed a heavier round of buying on Monday, which included the addition of more than 360,000 shares of Robinhood.

• Crypto-linked equities continued to decline on Tuesday amid weakness across both crypto and stock markets.
• Bitcoin’s price briefly fell below $94,000, adding to pressure on crypto-related stocks.
• Shares of Robinhood, Coinbase, Bitmine and other crypto equities across Ark Invest’s portfolios extended losses in overnight trade.

Cathie Wood’s Ark Invest continued buying the dip in crypto-linked stocks on Tuesday, adding shares of Robinhood (HOOD), Coinbase (COIN), Bitmine Immersion Technologies (BMNR) and other digital asset plays, while Bitcoin (BTC) price plunged below $94,000.

The latest purchases followed a heavier bout of buying on Monday, with Ark adding  more than 360,000 shares of Robinhood across its funds. Crypto-linked equities have been struggling this week amid weakness in both the crypto and stock markets amid the government shutdown and concerns about limited liquidity in the market.

Ark Invest is doubling down on its crypto bets despite the fact that COIN, BMNR and HOOD stocks led losses across its ETFs in the fourth quarter (Q4). Cathie Wood maintains her forecast that Bitcoin’s price is set to hit $1.5 million by 2030.

Coinbase, Bitmine Stocks Fall Despite Ark Purchases

HOOD’s stock fell 0.94% in overnight trade after a drop of 3.61% in regular trade. On Stocktwits, retail sentiment around the brokerage remained in ‘extremely bullish’ territory, accompanied by ‘extremely high’ levels of chatter over the past day.

Shares of Coinbase edged 0.81% lower after hours following a decline of 4.37% in the session. Retail sentiment around the crypto exchange remained in the ‘bullish’ zone amid ‘high’ levels of chatter over the past day. 

BMNR’s stock took a bigger hit of 1.61% in overnight trading following a drop of nearly 2% in the regular session. Retail sentiment around the Tom Lee-backed Ethereum (ETH) digital asset treasury (DAT) was in the ‘bearish’ zone alongside ‘high’ levels of chatter over the past day. 

Shares of Circle Internet Group, the issuer of the USDC stablecoin, edged 0.82% lower after hours following a 4.59% decline during regular trading. Block Inc (XYZ) slipped 0.53% overnight after falling nearly 6% during the session. Bullish (BLSH) shares were flat after hours after dropping 3.93% in the regular session.

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