Key Highlights
- ARK Invest purchased a combined $8.74 million worth of shares in BitMine and Bullish on Friday.
- BitMine Immersion Technologies is transitioning its focus to becoming a major institutional holder of ETH, with over 3.5 million ETH in its treasury.
Cathie Wood’s ARK Invest has been steadily increasing its stake in crypto-related companies, buying more shares of BitMine Immersion Technologies and Bullish even as the stock market saw declines.
According to ARK’s daily filings on Friday, the ARK Fintech Innovation ETF (ARKF) added 18,089 shares of BitMine, the ARK Next Generation Internet ETF (ARKW) picked up 34,637 shares, and the ARK Innovation ETF (ARKK) purchased 116,681 shares. In total, ARK acquired 169,407 BitMine shares, worth roughly $5.83 million.
At the same time, ARK boosted its position in Bullish. ARKF bought 8,063 shares, ARKW added 15,441, and ARKK acquired 52,011, bringing total purchases to 75,515 shares, valued at around $2.91 million. Both stocks had faced heavy selling pressure that day, with Bullish down 6.2% at $38.48 and BitMine falling nearly 6% to $34.40, before small gains in after-hours trading.
ARK’s broader crypto push
These moves are part of a larger trend at ARK Invest, which has been on a crypto-buying spree in recent weeks. Last week alone, the firm added 542,269 shares of Circle (CRCL), spending about $46 million over two days as the stock’s price continued to slide.
ARK’s latest purchases also follow earlier additions to BitMine. On Thursday, the firm acquired 242,347 shares for roughly $8.9 million as BitMine’s stock dipped below $37. This comes after ARK unloaded $109.6 million worth of shares across ARKK, ARKW, and ARKF on June 23.
Recently, the firm also invested $10 million in Securitize, a tokenization company backed by BlackRock, making it the eighth-largest holding in the ARK Venture Fund and accounting for about 3.25% of the fund’s assets.
Moves across other ARK ETFs
Beyond its crypto exposure, ARK made several adjustments across its broader ETF lineup. ARKK increased its stakes in biotech names such as Twist Bioscience, Beam Therapeutics, Tempus AI and CRISPR Therapeutics, while reducing positions in Iridium Communications, Veracyte, and Pinterest.
ARKW and ARKF continued adding to BitMine and Bullish, while the biotech-focused ARKG fund expanded its holdings in Tempus AI, Beam, Twist Bioscience, CRISPR and Regeneron, and trimmed Guardant Health, Natera, and Veracyte.
Also Read: Harvard’s Latest Filing Shows Major Boost in Bitcoin ETF Holdings
