ARK Invest has increased its purchases of crypto-related stocks, purchasing approximately $5.83 million worth of BitMine shares and approximately $2.91 million worth of Bullish shares in a single trading day.
ARKF, ARKW, and ARKK funds recorded multiple purchases, totaling 169,407 BitMine shares and 75,515 Bullish shares, respectively, indicating a strategy of increasing exposure to crypto-related assets during the market correction.
- ARK bought about USD 5.83 million BitMine shares and USD 2.91 million Bullish shares in one day.
- A total of 169,407 BitMine shares and 75,515 Bullish shares were purchased by ARK funds.
- Participating funds include ARK Fintech Innovation ETF (ARKF), ARK Next Generation Internet ETF (ARKW) and ARK Innovation ETF (ARKK).
Buy in overview
ARK made a large purchase on the same day, increasing its exposure to crypto-related stocks through several of the group’s ETFs.
The total purchase volume for the day was 169,407 BitMine shares (approx. USD 5.83 million) and 75,515 Bullish shares (approx. USD 2.91 million). This action reflects a strategy of adding to positions during a market correction.
Fund allocation
The three funds ARKF, ARKW and ARKK all contributed to the transactions: ARKF, ARKW and ARKK bought 18,089; 34,637; 116,681 additional BitMine shares respectively, and bought Bullish 8,063; 15,441; 52,011 shares respectively.
The figures show an uneven Chia of buying across ETFs, with ARKK recording the largest volume for both, reflecting different risk appetites and investment strategies across funds.
Meaning and impact
The purchase shows ARK continues to increase its exposure to crypto-related assets, possibly to capitalize on attractive valuations post-market correction.
The impact on stock prices will depend on liquidation and market news; large fund purchases can support prices in the short term but do not guarantee medium- to long-term trends without supporting fundamentals.
What tokens did ARK buy?
ARK purchased BitMine and Bullish shares on the same trading day, totaling 169,407 and 75,515 shares respectively.
What is the purchase price?
The total value recorded was approximately USD 5.83 million for BitMine and approximately USD 2.91 million for Bullish on that trading day.
Which ARK funds are involved in the purchase?
Participating funds include ARK Fintech Innovation ETF (ARKF), ARK Next Generation Internet ETF (ARKW) and ARK Innovation ETF (ARKK).
