- Ark Invest increased its holdings in crypto-related stocks, including Coinbase, BitMine, and Circle.
- The firm purchased around $10 million of Coinbase shares and about $9 million each of BitMine and Circle.
- Additional acquisitions include $9.75 million in Bullish and $6.7 million in Robinhood shares.
- Ark Invest has been consistently buying crypto equities amid market declines, enhancing its overall exposure.
- The firm’s ETFs now hold substantial positions in Coinbase, Circle, Robinhood, BitMine, and Bullish.
On Thursday, Ark Invest, led by Cathie Wood, continued adding crypto-related equities to its exchange-traded funds (ETFs). The firm purchased approximately $10 million worth of shares in crypto exchange Coinbase (COIN), alongside roughly $9 million each in shares of crypto treasury company BitMine Immersion Technologies (BMNR) and stablecoin issuer Circle (CRCL).
Most of these additions were made in Ark’s Fintech Innovation ETF (ARKF), which now holds nearly $58 million in Coinbase shares after acquiring about 42,419 shares. Coinbase is ranked as the second-largest holding in this ETF, just after Shopify. Alongside these, the firm invested $9.75 million in shares of crypto exchange Bullish (BLSH) across three ETFs, and around $6.7 million in shares of financial services platform Robinhood (HOOD).
These purchases represent part of a recent trend by Ark Invest to buy during market downturns. Last week, the firm acquired around $30 million in Circle shares, despite the stock trading at lows since its initial public offering. The prior week saw increased positions in BitMine, even as its shares and Ethereum—the primary treasury asset of the firm—declined.
The increased acquisitions have expanded Ark Invest‘s crypto market exposure significantly. As of the end of Thursday’s trading, its ETFs collectively hold over $500 million in Coinbase shares, approximately $244 million in Circle, $408 million in Robinhood, $196 million in BitMine, and $144 million in Bullish.
Earlier, Cathie Wood had projected a bullish long-term view for Bitcoin but recently adjusted her price target downwards, forecasting Bitcoin could reach about $1.2 million by 2030 from an earlier estimate of $1.5 million. Bitcoin was trading near $83,597 at the time, down approximately 4.3% in the past 24 hours.
For more information on market movements, see Ethereum Next Move.
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