ARK Invest Boosts Stakes in Bullish and BitMine Through Strategic ETF Purchases
ARK Invest has boosted its cryptocurrency equities exposure by acquiring approximately 160,000 shares of the Bullish crypto exchange for $8.2M across its ARKK and ARKW ETFs. These purchases follow earlier buys since Bullish’s $172M IPO investment, bringing ARK’s total Bullish stake to over $129M. ARK Invest also expanded its positions in BitMine, with ARKK, ARKW and ARKF ETFs amassing more than 6.7M shares—spending around $20.6M to date, including a recent $4.4M purchase that lifts BitMine holdings to a $284M market value. Additionally, ARK holds $193M in Jack Dorsey’s Block via ETFs. These strategic ETF acquisitions underscore ARK Invest’s bullish stance on crypto stocks and may tighten supply, supporting prices ahead of key earnings reports.
Bullish
ARK Invest’s ETFs buying significant stakes in Bullish and BitMine signals strong institutional confidence in these crypto equities. In the short term, large ETF purchases can tighten available share supply, supporting or boosting prices ahead of earnings reports. Over the long term, sustained ETF inflows may attract further institutional capital, reinforcing a bullish outlook for these crypto stocks.