Cathie Wood’s ARK Invest boosted its exposure to crypto-related equities on Friday, acquiring over $23.5 million in shares of BitMine Immersion Technologies (BMNR) and the crypto exchange Bullish, according to filings.
The purchases were spread across three of ARK’s actively managed ETFs — ARK Innovation (ARKK), ARK Next Generation Internet (ARKW), and ARK Fintech Innovation (ARKF) — which collectively bought 387,000 BitMine shares and 144,000 Bullish shares. ARKK led the purchases with 257,108 BitMine shares and 81,811 Bullish shares, while ARKW and ARKF accounted for the remainder.
Simultaneously, ARK trimmed stakes in DraftKings, Roku, Roblox, and chipmaker Teradyne.
BitMine, currently the largest ETH treasury firm, holds 1.87 million ETH valued at more than $8 billion. Its shares fell 0.3% during Friday’s trading session and an additional 1.17% in after-hours trading.
Bullish, which went public in August via a $1.1 billion IPO after abandoning a prior SPAC plan, gained 6% on Friday but slipped 1.5% after hours. ARK was a significant buyer on its debut, acquiring $172 million in shares.
The transactions underline ARK Invest’s continued focus on crypto-linked equities while actively managing portfolio adjustments across other sectors.
