The investment manager deployed $12 million into Robinhood while committing $4 million to Bitmine Immersion Technologies, an ether treasury firm.

ARK Invest ramped up its exposure to crypto-related equities on Thursday, deploying approximately $18 million across three digital-asset-focused companies.

The largest portion of the allocation went to trading platform Robinhood (HOOD), where ARK purchased $12 million worth of shares. The firm also invested $4 million in ether treasury company Bitmine Immersion Technologies (BMNR) and added a $2 million stake in cryptocurrency exchange operator Bullish (BLSH), according to a disclosure issued Friday.

The latest buy marks ARK’s 10th consecutive session accumulating Bullish, the parent company of CoinDesk. Bullish shares slipped 0.53% to close at $31.71. The stock has recovered from a Feb. 5 low near $24 and has hovered around the $30 level in recent days, though it remains more than 16% lower on the year.

Robinhood fell 8.9% to end Thursday at $71.12 amid a broader sell-off in U.S. technology stocks, a move that also pressured Bitcoin. In contrast, Bitmine outperformed the wider market, rising 1.39% to close at $19.74.

  • Related Posts

    SEC Slows Tokenization Plan Again as Officials Question ‘Innovation Exemption’

    The U.S. Securities and Exchange Commission is expected to postpone its proposed “innovation exemption” for tokenized securities once again, as concerns from the White House and Wall Street reportedly complicate…

    Continue reading
    SEC Puts Reg Crypto Proposal on Hold, No New Meeting Date Announced

    The U.S. Securities and Exchange Commission has delayed its long-awaited “Regulation Crypto” initiative after abruptly canceling a meeting that had been scheduled for Friday. The SEC was expected to unveil…

    Continue reading