Cathie Wood keeps buying the crypto dip

Dip? Cathie Wood says: thank you, next

Ark Invest just did what Ark does best: saw red candles and reached for the buy button. Over the past week, the firm scooped up nearly $10 million of beaten-down crypto stocks, including about $8 million of Coinbase and roughly $1.4 million of Circle.

Coinbase: bruised, but still a core bet

Coinbase has had a rough stretch, sliding more than 14% after its second-quarter earnings miss. But it’s still one of the biggest positions in the ARK Innovation ETF, which tells you Wood isn’t treating the weakness like a warning sign — more like a sale rack.

Circle gets the same vote of confidence

Circle also got a fresh buy, even as analysts trimmed price targets over fears that the Open USD consortium could crank up stablecoin competition. That’s the kind of backdrop that usually makes investors flinch. Ark, apparently, prefers to squint and see opportunity.

• Ark added 54,776 Coinbase shares.
• It also picked up 23,070 Circle shares.
• The moves reinforce Ark’s long-running “buy the stuff you believe in when it gets hit” playbook.

Big picture: this isn’t just a trade, it’s a thesis. Ark is still betting that crypto plumbing — exchanges, stablecoins, and all the messy infrastructure around them — has a long runway, even if the market is having a dramatic little tantrum right now.