ARK Invest Increases Exposure to Crypto Firms
ARK Invest extended its investment in the crypto sector by purchasing additional shares of BitMine Immersion Technologies and crypto exchange Bullish across its main exchange-traded funds (ETFs), according to Friday�s trading disclosures.
Large-Scale Purchases Mark Strategic Interest
The Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF) collectively acquired more than 387,000 shares of BitMine and 144,000 shares of Bullish. The acquisitions represent a combined investment of approximately $16 million in BitMine and $7.5 million in Bullish, based on recent market values.
- ARKK led BitMine purchases with 257,108 shares
- ARKW secured 83,082 BitMine shares
- ARKF added 47,135 BitMine shares
- For Bullish, ARKK also led with 81,811 shares, followed by ARKW with 39,597 and ARKF with 22,498
This move builds on ARK�s August activity, which saw the firm commit roughly $172 million to crypto-related stocks across the three ETFs on their first trading day. Bullish�s recent listing, which raised $1.1 billion, remains one of the most notable public offerings in the crypto industry this year.
Bullish Maintains Regulatory Presence and Media Holdings
Bullish owns CoinDesk and operates a crypto exchange with regulatory presence in Hong Kong, Gibraltar, Singapore, the UK, and other jurisdictions. The company listed in the public markets after an earlier SPAC merger in 2021 did not go through.
BitMine Adds to Its Ethereum Holdings
On Thursday, BitMine increased its position in Ether through six over-the-counter transactions facilitated by Galaxy Digital. The latest acquisitions bring BitMine�s Ether holdings to over 1.5% of Ethereum�s circulating supply, all purchased with cash and without leverage. This accumulation comes as centralized exchanges report a 38% drop in their Ether reserves since 2022, a trend driven by growing institutional involvement and ETF activity.
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