ARK Invest has taken bold steps to increase its presence in the cryptocurrency market, focusing on stocks such as Bullish, BitMine, and Circle, and adding nearly $600,000 to its Bitcoin ETF position.
Key Acquisitions
On Friday, ARK Invest notably expanded its investments, purchasing substantial amounts of stock in Bullish and Bitcoin ETFs, amounting to a collective total of approximately $2 million. The firm also acquired shares in Circle and Robinhood, with noteworthy purchases including 3,529 shares of Circle and $200,000 in Robinhood.
Bitcoin ETF Holdings
ARK further expanded its Bitcoin ETF holdings by nearing $600,000, primarily through new buys in the ARK 21Shares Bitcoin ETF. This strategic investment comes at a time when the U.S. Bitcoin ETF market is struggling, facing significant withdrawals amounting to nearly $1 billion in a single day.
Market Context
The latest round of acquisitions coincides with a surge in crypto-related equities, which have been responding positively after weeks of decline, resulting in a reported 5.75% increase in the value of certain holdings like Bullish.
Further Developments
Additionally, the firm made a significant investment on Thursday, acquiring $10.1 million in Coinbase and $9.9 million in BitMine, part of a larger trend of aggressive investment in the volatile cryptocurrency landscape.
For more details, check out Cointelegraph’s coverage on these investments.
