ARK Invest Buys $47M in Coinbase and BitMine Amid Crypto Market Downturn

ARK Invest has intensified its position in the cryptocurrency sector by purchasing shares in Coinbase and BitMine amid a recent downturn in crypto-linked equities. The firm added 94,678 shares of Coinbase (COIN) across three of its ETFs—ARKK, ARKW, and ARKF—bringing its total investment to approximately $30 million. The buying came as Coinbase’s stock fell by 16.7% on Friday, marking its worst single-day performance in months. This move follows a period of selling earlier in the week, when ARK sold nearly $7 million worth of Coinbase shares [1].

In parallel, ARK Invest significantly boosted its stake in BitMine Immersion Technologies (BMNR), acquiring 540,712 shares across the same three ETFs for an estimated $17 million. This purchase came as BMNR’s stock dropped 8.55% to close at $31.68, hitting an intraday low of $30.30. The firm has been a consistent buyer of BitMine shares, having added over $20 million worth of BMNR stock on Monday, following a $182 million purchase the previous week [2].

BitMine has emerged as a major player in the Ether (ETH) treasury space, currently holding the largest corporate ETH reserve with 625,000 tokens. The firm’s strategic pivot toward Ether aligns with its broader vision of institutional-grade digital asset management and has drawn attention from investors seeking exposure to blockchain-based treasury solutions [3].

Coinbase, meanwhile, has faced a challenging market environment, with its stock dropping 8% after hours despite reporting a record $1.5 billion net income. The decline highlights the difficulty even strong financial performance can face in the current climate of macroeconomic uncertainty and shifting investor sentiment in the crypto sector [4].

ARK Invest’s strategy appears to be a classic “buy the dip” approach, leveraging volatility to accumulate stakes in key crypto infrastructure and digital asset firms. The firm’s founder, Cathie Wood, has long positioned ARK Invest as a proponent of disruptive technologies, and these recent moves reinforce her belief in the long-term potential of blockchain and institutional adoption.

As major institutional investors like BitMine and MicroStrategy continue to expand their crypto holdings, the sector is witnessing a shift toward more mature and diversified investment strategies. ARK Invest’s latest transactions may serve as a signal to other market participants that the time is right to reassess exposure to crypto-related equities, particularly for investors with a long-term outlook [5].

Source:

[1] https://coinmarketcap.com/community/articles/688de17868cc6762938d9dc4/

[2] https://ca.finance.yahoo.com/quote/BMNR/news/

[3] https://coincentral.com/top-cryptos-under-1-blockdag-cardano-tron-stellar-are-quietly-building-real-value/

[4] https://ca.finance.yahoo.com/quote/MSTR/news/