ARK Invest (ARKK) CEO Cathie Wood is doubling down on the “Great Crypto Crash of 2025,” deploying nearly $50 million into beaten-down digital asset stocks as Bitcoin languishes 30% below its October record high. In a series of aggressive trade notifications on Monday, Wood’s funds loaded up on Coinbase (COIN), Circle (CRCL), and Bitmine Immersion Technologies (BMNR), effectively wagering that the current sector-wide “stomp” is a temporary detour on the road to a massive 2026 recovery.
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The buying spree comes as the total crypto market capitalization has shed over $1.1 trillion in just eight weeks, falling from a peak of $4.3 trillion to roughly $3.2 trillion. While retail sentiment has soured following Bitcoin’s slide to $86,000, Wood is reallocating capital away from established winners like Tesla (TSLA). She offloaded $57 million in TSLA shares to fund what she views as a generational entry point into the future of decentralized finance.
Wood Defends the $60 Billion Revenue Thesis
The centerpiece of ARK’s Monday activity was a $17.4 million purchase of Coinbase, as the exchange’s stock tumbled 6.4% to close at $250.42. Despite the technical carnage, J.P. Morgan (JPM) and ARK analysts maintain a long-term “Buy” conviction, projecting that a rebound in trading volumes could push Coinbase toward an average price target of $379, representing a 51% upside from Monday’s lows.
Wood’s conviction extends to the infrastructure layer, where ARK snapped up $19.2 million in Bitmine Immersion Technologies, the world’s largest Ethereum treasury company. Bitmine recently announced it holds over 3.2% of the total ETH supply, a hoard valued at roughly $13.2 billion, making it a high-beta play on an Ethereum recovery that many analysts believe is overdue after a 36% drawdown this quarter.
Circle Defends Stablecoin Dominance
In a move to capture the massive growth in digital dollar demand, ARK also acquired $11.9 million of Circle Internet Group as the stock plunged nearly 10%. Circle, the issuer of the USDC stablecoin, is currently undergoing an institutional renaissance, with analysts forecasting an average price target of $145.87, implying a staggering 75.7% upside.
Wood’s diversification into Bullish (BLSH) and Robinhood (HOOD) further signals a belief that the “intelligence per watt” economy and the tokenization of real-world assets will eventually bury the current “bubble” narrative. While bears warn that Bitcoin could test the $74,000 trough set in April, ARK’s model remains fixated on a $500,000 “bear case” target for Bitcoin by 2030, treating the current volatility as a necessary “reset” for the next exponential leg up.
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