Cathie Wood Doubles Down on Block, Circle and Coinbase as Prices Tank

TLDR

• Ark Invest purchased $25 million in crypto-related stocks on November 25, including Block, Circle, and Coinbase
• Circle stock down 51% in one month, Coinbase down 30%, and Block down 20.54% from previous month
• Bitcoin dropped from $126,000 all-time high to $87,948 in six weeks
• Coinbase now represents ARKK’s fourth-largest holding at $391 million
• Ark also bought Bullish, Robinhood, and its own bitcoin ETF during the downturn

Cathie Wood’s investment firm Ark Invest made large purchases of cryptocurrency stocks on Tuesday while prices continued falling. The firm spent $13.5 million on Block Inc. shares, $7.6 million on Circle Internet Group, and $3.86 million on Coinbase stock.

Block, Inc., XYZ

The buying happened on November 25, 2025 through multiple Ark exchange-traded funds. Most purchases went through the Ark Innovation ETF, which trades under the ticker ARKK. The firm also added $1.52 million in Bullish, $878,794 in Robinhood Markets, and $2.8 million in its Ark-21Shares spot bitcoin ETF.

These purchases came during a difficult period for crypto markets. Block closed Tuesday at $63.69, up 2.96% for the day but down 20.54% over the past month. Circle dropped 3.62% to $70.11 on Tuesday, falling 51% from its price one month earlier.

Coinbase fell 0.72% on Tuesday and has declined 30% in the past month. Despite the drop, Coinbase remains a major holding for ARKK. The stock now represents the fund’s fourth-largest position valued at $391 million.

Ark Invest Portfolio Structure

The Ark Innovation ETF holds different weights in each crypto company. Coinbase makes up 5.22% of the portfolio at $391 million. Circle accounts for 2.39% of the fund with $179 million in holdings. ARKK holds $85.2 million in Block shares.

Coinbase Global, Inc., COIN

This buying pattern matches Ark’s history of purchasing stocks during market declines. The firm has been adding crypto-related positions for several weeks. The strategy takes advantage of lower entry prices.

Bitcoin and Market Conditions

Bitcoin currently trades at $87,948. This marks a sharp decline from its $126,000 all-time high reached six weeks ago. The broader cryptocurrency market has faced pressure from thin liquidity and macroeconomic uncertainty.

Block serves as a financial technology company focused on cryptocurrency services. Co-founder Jack Dorsey leads the company’s Bitcoin integration efforts. Circle issues the USDC stablecoin and builds infrastructure for digital payments. Coinbase operates as one of the largest cryptocurrency exchanges. The platform processes billions in trading volume and serves both retail and institutional clients.

The three companies represent different parts of the digital finance ecosystem. Block focuses on payment processing and Bitcoin services. Circle builds stablecoin technology. Coinbase provides exchange and custody services.

Ark Invest has maintained its focus on digital asset companies despite market volatility. The firm continues building positions in blockchain and cryptocurrency businesses. These recent trades show Ark’s commitment to the sector even during price declines.

The purchases reflect the firm’s long-term investment approach. Ark typically increases exposure to technology companies during market downturns. This strategy has defined the firm’s investment philosophy across multiple sectors.

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