ARK Invest Concludes Week with Notable Investments in Bitcoin ETF and Crypto Assets

ARK Invest finished the week with significant investments across multiple funds, focusing on crypto-related equities like Circle, Bullish, BitMine, Robinhood, and Bitcoin ETFs. The firm’s strategies reflect a strong interest in these assets despite market fluctuations.

Key Takeaways

Investments Made: ARK Invest has significantly increased holdings in Circle, Bullish, BitMine, Robinhood, and Bitcoin ETFs.
Total Purchases: The total purchases from various ETFs amounted to about $2 million in Bullish, around $830,000 in BitMine, and smaller amounts in Circle and Robinhood.
Bitcoin ETF Growth: ARK raised its Bitcoin ETF investments by nearly $600,000 amidst broader market challenges, with net outflows reaching close to $1 billion.
Daily Acquisition Highlights: On Thursday, ARK made substantial buys totaling over $10 million in Coinbase and various other crypto-related stocks.

ARK Invest wraps up week with Bitcoin ETF, Bullish, Circle, BitMine buys

ARK Invest's Recent Accumulation of Crypto Investments

ARK Invest ended the week with a notable round of investments across several of its prominent funds. The firm targeted key crypto-related equities, including positions in Circle, Bullish, BitMine, Robinhood, and Bitcoin ETFs, as the sector experienced a rebound.

Among the largest transactions, ARK's flagship funds—the ARK Innovation ETF (ARKK), the ARK Fintech Innovation ETF (ARKF), and the ARK Next Generation Internet ETF (ARKW)—focused their investments on Bullish. Collectively, these buys represented about $2 million, coinciding with Bullish's share price increase of 5.75% on that day.

Furthermore, ARK continued its acquisition of BitMine with purchases across ARKF, ARKK, and ARKW, contributing approximately $830,000. Although BitMine's stock slightly dipped, it maintained a stable trading range near $26.

ARK also bought smaller stakes in Circle and Robinhood, acquiring 3,529 shares of Circle valued at $250,000 as the firm's stock rose over 6%. Additionally, ARK invested around $200,000 in new shares of Robinhood.

Bullish shares gain nearly 6% on Friday. Source: Google Finance

ARK Expands Bitcoin ETF Holdings

On Friday, ARK Invest boosted its holdings in Bitcoin ETFs by almost $600,000, with significant purchases of the ARK 21Shares Bitcoin ETF (ARKB). The ARKF and ARKW funds collectively acquired more than 20,000 shares.

This purchase activity comes at a challenging time for the U.S. spot Bitcoin ETF market, experiencing one of its most significant downturns since its inception. Combined, the 12 funds faced nearly $1 billion in net outflows on Friday, representing the second-largest daily withdrawal so far and setting the stage for the weakest week since February.

In the past month, outflows have increased, totaling about $4 billion as Bitcoin’s price has decreased by approximately 30% from recent highs.

ARK's Aggressive Buying Spree in Crypto Assets

On Thursday, ARK made its biggest daily acquisitions throughout the week, spending $10.1 million on Coinbase, $9.9 million on BitMine, $9 million on Circle, and $9.65 million on Bullish. Additionally, the firm made further investments totaling $16.8 million in Nvidia and $6.8 million in Robinhood.

Before this, ARK had invested around $16.8 million in Bullish shares, roughly $15 million in Circle, and about $7.6 million in BitMine across its ARKF, ARKW, and ARKK ETFs on Wednesday.

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