As part of its biggest daily acquisition of the week, Cathie Wood’s Ark Invest purchased a huge number of cryptocurrency-related equities on Thursday across three of its exchange-traded funds.
The company purchased $10.1 million in Coinbase shares, $9.9 million in Ethereum treasury company BitMine, $9 million in Circle shares, and $9.65 million in bullish cryptocurrency exchange shares, according to its trading disclosure.
Stocking up on shares
Through the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF), Ark conducted the acquisitions. Ark Invest spent $16.8 million on Nvidia and $6.8 million on Robinhood shares on Thursday as part of its purchasing binge.
As crypto companies continue to lose market share this week, Ark seems to be buying more cryptocurrency-related stocks. On Thursday, Coinbase closed at $238.16, down 7.44%. Circle lost 4% to $66.93, while BitMine fell 10.83% to $26.02. The Cullish cryptocurrency exchange ended Thursday at $36.50, up 0.30%, although it has gone down 37.88% over the previous month.
The drop in cryptocurrency-related equities is consistent with a multi-week correction that has wiped off around $1 trillion in overall market value since Bitcoin’s all-time high last month.
Ark’s crypto investments
On Friday, the Cathie Wood-led company also purchased 380,244 shares in Bitmine Immersion Technologies, valued at just less than $10 million.
On October 28th, Cathie Wood’s ARK Invest has expanded its investment in Bullish by acquiring more than $5 million in shares across multiple ETFs. The digital asset exchange that went public in July on the New York Stock Exchange under the symbol BLSH.
Additionally, on 1st November, Cathie Wood’s Ark Invest expanded its exposure to Block Inc. (XYZ) by acquiring $30.9 million worth of shares across three of its exchange-traded funds
For its Digital Assets Revolutions Fund, ARK Invest has formally chosen Canada-based SOL Strategies as its only supplier of staking services. With SOL Strategies taking over the fund’s validator operations, the move marks a major step in ARK’s expanding focus on blockchain infrastructure.
ARK Invest’s aggressive buying spree underscores the firm’s conviction that the current market downturn represents an accumulation opportunity rather than a structural setback. By increasing exposure across multiple crypto-linked equities, ARK is signalling confidence in the long-term growth of digital-asset infrastructure, even as the broader market weathers heightened volatility and short-term uncertainty.
Also Read: Cathie Wood’s Ark Invest Sells Over 340,000 Circle Shares Worth $52M as CRCL Stock Hits Record High