Cathie Wood’s ARK Invest recently announced an increased investment in crypto-related stocks amidst a recent downturn in the stock market. This week, the firm shared a trading notification indicating significant purchases in several companies, including trading platform Robinhood, stablecoin issuer Circle, and digital asset manager BitMine, among others.

Notably, ARK Invest made these acquisitions through its ARK Innovation ETF (ARKK) and the ARK Blockchain & Fintech Innovation ETF (ARKF), with its Next Generation Internet ETF also expanding its crypto stock holdings. Major investments included the purchase of 235,077 shares in Robinhood (HOOD) worth approximately $21.1 million and 274,358 shares in BitMine (BMNR) valued around $6.2 million within the ARKK ETF.

Despite these investments, crypto stocks have faced challenges, with platforms like Robinhood and Circle experiencing declines of almost 10% and 8% respectively. Furthermore, other crypto exchanges such as BitMine and Bullish have also seen significant drops.

ARK’s recent activities signify a strong commitment to the cryptocurrency market, even as it grapples with ongoing pressures following the October crypto market crash. The firm’s continued focus on this sector highlights its belief in the long-term potential of crypto-assets despite current market volatility.