Ark Invest bought Coinbase, Block, Bullish, Circle and Bitmine as Bitcoin and Ether traded below key moving averages, with sentiment weak but long‑term theses intact.
Summary
- Ark Invest accumulated shares of Bitmine, crypto exchange Bullish, Circle, Block Inc. and Coinbase as their prices slid with the broader digital asset market.
- The buying coincided with Bitcoin and Ether trading below their 200‑day moving averages and long‑term trend lines, while sentiment gauges flashed heightened caution.
- Bitwise CIO Matt Hougan described an extended bear phase since early 2025, while Cathie Wood highlighted gold’s rally and disinflation data as potential signals for Bitcoin’s next leg.
Ark Invest has purchased shares of multiple cryptocurrency-focused companies as digital asset markets continue to decline, according to trading data.
The investment firm bought shares in Ethereum treasury company Bitmine on Tuesday, along with positions in crypto exchange Bullish and stablecoin issuer Circle, according to the firm’s trading disclosures. Ark Invest also acquired shares of Block Inc. and Coinbase during the same period.
The purchases occurred as the stocks traded lower on the day, according to market data. The buying activity comes as major cryptocurrencies trade below recent price peaks.
Ark Invest doubles down on Bitcoin
Bitcoin (BTC) remained below its 200-day simple moving average in the previous trading session, according to technical indicators. The cryptocurrency has also fallen below the 100-week moving average, a level historically associated with significant price pullbacks. The Fear and Greed Index, a sentiment measure for cryptocurrency markets, indicated elevated caution among market participants.
Ether similarly traded below its 200-day simple moving average and remained well below its all-time high, according to price data.
Matt Hougan, Chief Investment Officer at Bitwise, characterized Bitcoin as experiencing an extended bear market since early 2025, attributing the decline to high leverage and profit-taking, according to published comments.
Cathie Wood, CEO of Ark Invest, stated that gold’s recent price rally could signal a potential future advance for Bitcoin, noting that gold has preceded major Bitcoin gains in previous market cycles despite low long-term correlation between the assets.
Data from Truflation indicated that inflation metrics could turn negative, with consumer price inflation measuring below recent historical levels, according to the firm’s analysis.
