Cathie Wood’s ARK Invest expanded its crypto-focused positions on Friday, purchasing more than $23.5 million in shares of BitMine Immersion Technologies (BMNR) and crypto exchange Bullish, the parent company of CoinDesk.
Filings show the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF) collectively bought 387,000 shares of BitMine and 144,000 shares of Bullish. ARKK led the purchases, acquiring 257,108 BitMine shares and 81,811 Bullish shares, while ARKW and ARKF split the remaining allocations.
At the same time, ARK trimmed stakes in DraftKings, Roku, Roblox, and semiconductor company Teradyne.
BitMine, the largest ETH treasury firm, holds 1.87 million ETH valued at over $8 billion. Its shares fell 0.3% in Friday trading and 1.17% in after-hours activity.
Bullish, which went public in August through a $1.1 billion IPO after canceling a previous SPAC plan, rose 6% on Friday but dipped 1.5% in after-hours trading. ARK was a significant buyer on day one, purchasing $172 million in shares.
The moves highlight ARK Invest’s continued focus on crypto-linked equities, adding exposure to leading blockchain and exchange companies while trimming other positions.
