ARK Invest Invests $23.5 Million in BitMine and Bullish Shares
- ARK Invest purchased over $23.5 million in shares of BitMine Immersion Technologies (BMNR) and crypto exchange Bullish.
- The investment was made across three ETFs, including the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).
- A total of approximately 387,000 shares of BitMine and about 144,000 shares of Bullish were acquired at Friday’s closing prices.
- BitMine is currently the largest treasury firm for Ethereum, holding around 1.87 million ETH valued at over $8 billion.
- Shares of BitMine fell by approximately 0.3% during Friday’s session, while Bullish’s stock rose by about 6% on its first day trading after a $1.1 billion IPO.
This significant investment by ARK highlights its ongoing commitment to ETF investments in the cryptocurrency sector, particularly in firms like BitMine that are heavily involved with Ethereum. The acquisition reflects a strategic move to bolster their portfolio with key players in the crypto market.
Overall, ARK’s purchase included over $23.5 million worth of shares from both BitMine and Bullish, indicating strong confidence in these companies’ future potential within the cryptocurrency landscape.
