Cathie Wood’s ARK loads up on Circle, BitMine, Bullish as crypto stocks slide

BitMine is facing a significant $3.7 billion paper loss, which, along with declining mNAV valuations, poses a threat to the business model of Digital Asset Trusts (DATs), as reported by 10x Research. This downturn highlights the challenges within the cryptocurrency sector, particularly for companies heavily invested in digital assets.

Kraken's parent company has taken a significant step towards an initial public offering (IPO), aiming to join other cryptocurrency firms like Circle, Gemini, Bullish, and Figure Technologies. This move comes amid a volatile market, indicating Kraken's commitment to growth despite industry challenges.

Bullish reported record revenue and profit for the third quarter; however, this strong performance did not positively impact investor sentiment, as the company's share price continued to decline.

Bullish reported record revenue and profit for the third quarter; however, this strong performance did not positively impact investor sentiment, as the company's share price continued to decline.

Circle has launched xReserve, enabling blockchains to issue $USDC-backed stablecoins that work natively with $USDC, reducing dependence on external bridges. The market cap of $USDC has reached approximately $74 billion in 2025, solidifying its role as a key asset in on-chain finance. Best Wallet Token ($BEST) has garnered $17.1 million in presale, offering governance rights and reduced fees. This development allows chains to use $USDC as native collateral, enhancing liquidity and transaction efficiency.

Shares of Bullish rose 2% in pre-market trading following the company's announcement of profit in the third quarter, attributed to the addition of options and U.S. spot trading. This positive sentiment reflects investor interest in the company's strategic moves within the cryptocurrency market.

ARK Invest has invested $10 million in Bullish as the cryptocurrency market faces a significant downturn, with major stocks like Coinbase, Marathon Digital, and Riot experiencing sharp declines. This investment comes amid a broader sell-off in crypto stocks, reflecting the ongoing challenges within the sector. The overall sentiment remains negative as investors react to the volatility in the market.

ARK Invest has invested $10 million in Bullish as the cryptocurrency market faces a significant downturn. Major crypto stocks, including Coinbase, Marathon Digital, and Riot, have experienced sharp declines. This investment comes amid a broader sell-off in crypto stocks, indicating a challenging environment for the sector.