Bitcoin, Crypto Stocks Are Under Pressure. Cathie Wood’s ARK Buys More Robinhood Shares.

Robinhood stock fell 9% Thursday but Cathie Wood’s ARK Invest bought more of the shares. (Getty Images)

Key Points

• Bitcoin traded at $92,141, up 2% after briefly falling below $90,000, amid uncertainty regarding Federal Reserve rate cuts and a tech selloff.
• ARK Invest’s Cathie Wood increased her fund’s stake in Robinhood by 124,427 shares, making it 4.4% of the ARK Innovation ETF.
• Robinhood’s shares fell 9% after November equity trading volumes decreased 37% and crypto volumes slipped 12% month-over-month.

Bitcoin, other cryptocurrencies and stocks exposed to digital assets remain under severe pressure. But there’s a growing appetite for buying the dip.

Bitcoin was trading at $92,141 early in the day, up around 2% over the past hours after slipping below $90,000 at one point on Thursday. Uncertainty over whether the Federal Reserve will keep cutting rates and a tech selloff after Oracle’s earnings hit cryptocurrencies.

Digital assets were attempting another tentative rebound Friday after the S&P 500 and Dow Jones Industrial Average indexes both closed at record highs in the previous session.

But Bitcoin remains 27% off its record high of above $126,000 reached in early October and is down 1% in 2025.

ARK Invest’s Cathie Wood also seems to be backing a crypto comeback. Wood’s fund bought another 124,427 shares of brokerage platform Robinhood Thursday across two of its exchange-traded funds. The stock is the seventh largest holding in the ARK Innovation exchange-traded fund (ETF), making up 4.4% of the fund’s weight and valued at $351.5 million, according to ARK’s website.

Other crypto-related stocks are high up on the list —exchange platform Coinbase is the ETF’s fourth biggest holding, while stablecoin issuer Circle Internet, networking company Bitmine Immersion and CoinDesk owner Bullish all make the top 20.

Robinhood shares tumbled 9% Thursday after the brokerage platform said trading volumes fell in November compared to October. Equity trading volumes tumbled 37% month-over-month to $201.5 billion, while crypto volumes slipped 12% to $28.6 billion—both are up double-digits year-over-year, though.

Ethereum, the second largest crypto, rose 1.5% to $3,245, while popular altcoin XRP climbed 0.9% to $2.04.

Write to Callum Keown at callum.keown@dowjones.com