Cathie Wood’s ARK Invest has continued building its Crypto-focused portfolio, acquiring more shares of BitMine Immersion Technologies and crypto exchange Bullish.
According to trade filings, ARK’s three flagship ETFs — Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF) — collectively purchased more than 387,000 BitMine shares and 144,000 Bullish shares.
Based on current market prices, the acquisitions are valued at roughly $16 million for BitMine and $7.5 million for Bullish.
ETF Allocation Breakdown
The biggest single allocation came from ARKK, which added 257,108 BitMine shares.
ARKW followed with 83,082, while ARKF acquired 47,135.
For Bullish, ARKK once again led the way with 81,811 shares, with ARKW and ARKF purchasing 39,597 and 22,498 shares respectively.
This continues a pattern of aggressive crypto stock buying by ARK.
Building on August Investments
The purchases extend ARK’s earlier activity in August, when it bought 2.53 million Bullish shares worth $172 million across its ETFs.
Bullish’s stock rose 83.8% on its first day of trading, raising $1.1 billion in its IPO and becoming one of the year’s most notable crypto listings.
Bullish shares gained another 6% on Friday, according to Google Finance.
Bullish Expands Its Reach
Bullish, which owns CoinDesk and runs a regulated crypto exchange, has taken a traditional IPO route after a failed SPAC attempt in 2021.
The company now operates across key jurisdictions including Hong Kong, Gibraltar, Singapore, and the UK.
Its public listing signals growing confidence in institutional adoption of crypto businesses.
BitMine Boosts Ether Holdings
Meanwhile, BitMine continues to strengthen its Ethereum reserves.
On Thursday, the company purchased $65 million worth of ETH through six OTC deals with Galaxy Digital.
This pushes BitMine’s total holdings above 1.5% of Ethereum’s circulating supply, all bought with cash and without leverage.
The move comes amid tightening supply on exchanges, with centralized reserves down 38% since 2022.
ETF demand and institutional buying have further reduced availability, creating upward pressure on prices.
For ARK Invest, both BitMine and Bullish represent strategic exposure to the crypto sector’s infrastructure and liquidity providers, reflecting Cathie Wood’s ongoing conviction in digital assets.