Ark Invest buys The Dip, adds Circle, BitMine and bullish stocks

Cathie Wood’s Ark Invest is buying the dip with new purchases of Circle, Bullish and BitMine shares.

The asset management titan said it purchased $15.56 million worth of Circle shares in its three ETFs (exchange-traded funds). The ARK Innovation ETF (ARKK) purchased 130,595 Circle shares, while the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF) purchased 38,313 and 20,033 Circle shares, respectively.

Here are all the movements made by Cathie Wood and Ark Invest on the stock market today 11/13 pic.twitter.com/kT31a9mzva

– Ark Invest Tracker (@ArkkDaily) November 14, 2025

With these funds, Ark Invest also purchased 242,347 shares of BitMine worth approximately $8.86 million and 177,480 shares of Bullish for $7.28 million.

Ark Invest: Bullish Stablecoin Growth Outlook

This is the second day in a row that Ark Invest has purchased Circle shares across its funds. Prior to the latest purchase, the asset management firm acquired a total of 353,328 Circle shares for more than $30 million.

Here are all the movements made by Cathie Wood and Ark Invest on the stock market today 11/12 pic.twitter.com/hXQWyCv2RU

– Ark Invest Tracker (@ArkkDaily) November 13, 2025

The bet on Circle is fueled by the company’s prediction that the stablecoin market will continue to grow in the coming years.

In a previous interview With CNBC, Wood said stablecoins are increasingly being used in place of Bitcoin to make payments and are growing faster than the largest crypto in terms of market capitalization.

Because of this, Ark has reduced its target for the price of Bitcoin to $1.2 million by 2030, from $1.5 million previously.

“Stablecoins usurp some of the role we thought Bitcoin would play,” Wood said. “Given what is happening to stablecoins – serving emerging markets like we thought for Bitcoin – I think we could get $300,000 out of this bullish scenario (for Bitcoin).”

Circle’s USDC is the second largest stablecoin with a market capitalization of over $75.6 billion.

ARK buys the dip

Ark’s purchases came as the crypto industry’s market cap fell more than 6% in the past 24 hours to around $3.27 trillion as of 6:22 a.m. EST, according to CoinMarketCap.

Crypto-related stocks also fell, with Circle, issuer of USD Coin (USDC), which went public earlier this year, fell more than 4% in the past 24 hours, according to Google Finance.

Circle share price (Source: Google Finance)

Circle shares are now down more than 38% over the past month.

BitMine’s stock price suffered an even bigger drop in the past 24 hours, falling more than 9%, while Bullish, the Peter Thiel-backed digital trading platform, saw its stock price fall by a similar amount.

Circle Reports Strong Third Quarter Performance, Receives Outperform Rating for Stock

As Circle’s stock price has fallen in recent months, the stablecoin issuer announced that third-quarter revenue jumped 66% from a year earlier, to $740 million.

Circle also launched the testnet of its Arc layer 1 blockchain which it said saw participation from over 100 companies from different sectors.

With the strong third quarter performance and the blockchain launch, other analysts shared Wood’s view that Circle shares may be undervalued. Among them are analysts at investment bank William Blair, who gave the company an “outperform” rating for its stock in a report released earlier this week.

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