Ark Invest, led by Cathie Wood, added to its positions in several crypto-related companies on Thursday, signaling continued confidence despite recent market weakness. The firm purchased 212,314 shares of Bitmine, an Ethereum treasury-focused company, across three of its exchange-traded funds. Based on the latest closing price, the acquisition was valued at approximately $4.2 million.
Bitmine shares closed at $19.74, rising 1.4% on the day, though the stock remains down 36.7% over the past month. Ark also bought 74,323 shares of crypto exchange operator Bullish worth roughly $2.4 million. Bullish ended the session at $31.71, down 0.5% for the day and nearly 18% lower over the past month.
$12.4 Million Robinhood Purchase as Stocks Slide
In addition to expanding its crypto-focused holdings, Ark acquired 174,767 shares of Robinhood, valued at $12.4 million. Robinhood’s stock declined 8.9% on Thursday and is down about 40% over the past month.
Ark maintains a diversification strategy that limits any single holding to no more than 10% of a fund’s portfolio. Within the ARKF ETF, Bullish currently ranks as the ninth-largest position with a 3.4% weighting, valued at nearly $30 million.
The purchases came as broader markets weakened, with the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 all posting notable declines. Meanwhile, Bitcoin traded near $66,754, while Ether hovered around $1,962, both reflecting ongoing pressure in digital asset markets.
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.