Ark Invest, led by CEO Cathie Wood, added approximately $25 million worth of shares in Circle, Bitmine, Bullish, Coinbase, and Block Inc. on Monday as the crypto-linked stocks continued their steep decline alongside the broader digital asset market.
What Happened: Cathie Wood Expands Crypto Holdings
The asset manager purchased $9.4 million worth of Circle shares across two exchange-traded funds, according to its trade filing. Ark also acquired $6.25 million in Ethereum (ETH) treasury firm Bitmine and $6 million in the Bullish crypto exchange.
Smaller positions in Block Inc. and Coinbase totaled $1.9 million and $1.25 million, respectively.
Circle closed down 7.9% on Monday at $58.86, having fallen 65% over the past six months, according to The Block's stock price page. Tom Lee-led Bitmine dropped 9% on the same day, while Bullish fell 4.7% and Coinbase saw a 3.5% decline.
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Why It Matters: Gold Rally May Signal Next Bull Run
The pullback mirrors a broader decline across digital assets. Bitcoin (BTC) was trading at $78,641 at the time of writing, down 10.9% over the past week, while Ether fell 20% during the same period to $2,331.
Wood recently posted on X that gold's price rally could precede Bitcoin's next major move.
"Important to note is that the correlation between the bitcoin and gold prices has been 0.14 since early 2020, and that the gold price led the last two significant bull moves in the bitcoin price in the last two major cycles," she wrote.
Before that Ark Invest forecasted tokenized real-world assets will grow from approximately $19 billion currently to $11 trillion by 2030, according to its annual Big Ideas 2026 report released this week. The projection represents a roughly 58,000% increase from current levels.
Cathie Wood's investment firm cites regulatory clarity and institutional infrastructure development as primary catalysts for adoption across multiple asset classes. Tokenization involves converting traditional assets like stocks, bonds, and real estate into digital representations on public blockchains, with Wood specifically mentioning public equities, sovereign debt, and bank deposits as target categories for migration.