Cathie Wood’s ETFs double down on Ethereum treasuries and crypto exchange shares
Cathie Wood’s ARK Invest has expanded its crypto-focused stock portfolio, purchasing $16 million worth of BitMine Immersion Technologies and $7.5 million of Bullish stock across three of its flagship ETFs. The move highlights the firm’s ongoing conviction in digital asset companies despite recent market volatility.
ARK Invest’s Latest Allocations
Trade disclosures from Friday show that the ARK Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF) collectively bought 387,000 shares of BitMine and 144,000 shares of Bullish.
- BitMine purchases: ARKK added 257,108 shares, ARKW bought 83,082, and ARKF picked up 47,135.
- Bullish purchases: ARKK secured 81,811 shares, ARKW acquired 39,597, while ARKF added 22,498.
These new allocations follow ARK’s August investment of $172 million in Bullish during its IPO debut, which saw shares surge nearly 84% on opening day.
Growing Confidence in BitMine and Ethereum
The timing of the BitMine purchases aligns with the company’s latest move to add $65 million in Ether (ETH) to its treasury, executed through six OTC transactions with Galaxy Digital. This brings BitMine’s total holdings to more than 1.5% of Ethereum’s circulating supply, making it the world’s largest corporate holder of ETH.
Bullish’s Post-IPO Momentum
Bullish, which operates a global crypto exchange and runs regulated entities in Hong Kong, Gibraltar, Singapore, and the UK, has been gaining traction since its $1.1 billion IPO raise earlier this year. On Friday, shares rose 6%, reinforcing market optimism.
According to BITX market strategists, “ARK’s repeated purchases of Bullish shares show confidence in the exchange’s long-term regulatory footprint and global trading model.”
With combined purchases of $23.5 million in BitMine and Bullish, ARK Invest is clearly signaling confidence in the crypto sector’s resilience. By betting on both Ethereum treasuries and regulated exchanges, ARK appears to be positioning its ETFs for long-term exposure to institutional adoption and blockchain integration.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.