ARK Invest Buys Crypto Stocks Dip Amid Extended Market Selloff

Cathie Wood's ARK Invest made significant purchases in key crypto-related companies as the sector's stocks continued a multi-day decline. The investment firm's exchange-traded funds, including the ARK Innovation ETF (ARKK), bought shares of Coinbase (COIN) and the Grayscale Bitcoin Trust (GBTC). This buying activity occurred during a broad selloff affecting major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), alongside public crypto equities. Analysts view ARK's move as a strategic accumulation during a period of market fear and lowered valuations, highlighting a long-term conviction in the digital asset ecosystem despite short-term volatility. The action underscores a classic "buy the dip" strategy employed by institutional investors in the evolving crypto market.