Ark Invest stepped in during the latest market downturn, boosting its exposure to crypto-related equities with nearly $40 million in new purchases on Wednesday.
According to a disclosure, the firm bought 463,598 shares of crypto exchange Bullish (BLSH) valued at $16.9 million. It also accumulated 216,019 shares of stablecoin issuer Circle Internet Group (CRCL) for about $15.1 million, along with 260,651 shares of Bitmine Immersion Technologies (BMNR), an ether-focused asset and infrastructure company, totaling $7.6 million.
These stocks sit across Ark’s Innovation (ARKK), Next Generation Internet (ARKW) and Fintech Innovation (ARKF) ETFs, all of which actively hold crypto and blockchain-linked companies.
The purchases came as crypto markets extended losses earlier in the week, with bitcoin dipping close to $89,000. The slump weighed on sector equities: CRCL and BMNR each fell around 9% on Wednesday, while BLSH—the parent of CoinDesk—declined 3.63%. The CoinDesk 20 index (CD20) dropped 3.22%.
Ark’s move fits its long-running pattern of accumulating shares during periods of market weakness, a strategy aimed at maximizing long-term value and maintaining balanced ETF allocations.
