Wood Stays Bullish on Crypto Amid Market Volatility

Cathie Wood's Ark Invest has continued to demonstrate its commitment to crypto despite recent market volatility. The firm added 23,070 shares of Circle worth around $1.4 million to its portfolio.

This move comes as Circle faces increased competition in the stablecoin market following a New York trust charter license. Despite this, Wood's team remains bullish on the company's long-term prospects.

Wood has consistently used market downturns to increase exposure to high-conviction themes, including crypto. She believes that companies building core digital asset infrastructure will ultimately drive growth in the space.

Circle is one of Ark Invest's top holdings, with a total value of around $210.5 million. The firm also continues to hold a significant stake in Coinbase, another major player in the crypto market.