“ARK Invest Adds $23.5M in BitMine and Bullish Stakes Through Core ETFs”

Cathie Wood’s ARK Invest increased its exposure to crypto-related equities on Friday, purchasing more than $23.5 million in shares of BitMine Immersion Technologies (BMNR) and crypto exchange Bullish, the parent company of CoinDesk. The buys were made across three of ARK’s actively managed ETFs.

Trade disclosures show the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF) collectively acquired 387,000 BitMine shares and 144,000 Bullish shares, representing over $23.5 million at Friday’s closing prices. ARKK led the purchases, picking up 257,108 BitMine shares and 81,811 Bullish shares, with ARKW and ARKF splitting the remainder.

At the same time, ARK trimmed positions in DraftKings, Roku, Roblox, and semiconductor firm Teradyne.

BitMine, the largest ETH treasury firm, holds 1.87 million ETH valued at more than $8 billion. Its shares fell 0.3% during Friday’s session and an additional 1.17% in after-hours trading.

Bullish went public in August via a $1.1 billion IPO after abandoning a prior SPAC plan, with ARK as a significant buyer on day one, purchasing $172 million worth of shares. The stock rose 6% on Friday but slipped 1.5% in after-hours trading, continuing to build on momentum from its debut.

  • Related Posts

    Binance expands its platform with a prediction market offering for millions of users.

    Binance has added a prediction markets feature to its Binance Wallet, enabling users to trade on real-world event outcomes directly within the app. The integration links Binance Wallet to Predict.fun,…

    Continue reading
    Bhutan has reportedly divested 70% of its Bitcoin over the past 18 months and may have paused or ended BTC mining.

    Bhutan is steadily exiting one of the most closely watched sovereign bitcoin strategies, continuing a measured reduction in its holdings. The kingdom’s reserves have declined from roughly 13,000 BTC in…

    Continue reading