ARK Invest resumes crypto buying spree, adds BitMine and Bullish shares

ARK Invest is back on its crypto shopping spree — scooping up BitMine Immersion Technologies and Bullish shares across multiple ETFs while these stocks were getting absolutely hammered in the market.

Friday's trade disclosures show ARK went full degen mode: ARK Fintech Innovation ETF (ARKF) grabbed 18,089 BitMine shares, ARK Next Generation Internet ETF (ARKW) snagged 34,637, and ARK Innovation ETF (ARKK) loaded up with 116,681 shares. Total haul: 169,407 shares worth $5.83 million.

Meanwhile, ARKF bought 8,063 Bullish shares, ARKW added 15,441, and ARKK acquired 52,011 — totaling 75,515 shares valued at $2.91 million.

ARK timed this perfectly — both stocks were getting slaughtered. Bullish closed down 6.19% at $38.48, while BitMine tanked nearly 6% to $34.40. Both saw slight recoveries in after-hours trading, proving once again that Cathie Wood loves buying the dip.

This isn't ARK's first rodeo — the firm's been on an absolute crypto stock accumulation tear. Last week, they grabbed 542,269 Circle (CRCL) shares over two days, dropping roughly $46 million ($30.4M Wednesday, $15.5M Thursday) as CRCL kept sliding from $86 to $82.30.

These are ARK's first Circle buys since June, when they famously dumped around 1.7 million shares at an average of $200, booking a massive $352 million profit. Talk about selling high and buying low.

ARK's also been stacking BitMine — on Thursday, they acquired 242,347 shares for about $8.9 million as the stock dipped below $37. They're clearly doubling down on their conviction.

Meanwhile, BitMine is undergoing major corporate shakeups — they've replaced CEO Jonathan Bates with Chi Tsang and appointed three new independent board members.

This comes as BitMine cements its position as the largest Ether-holding public company, with over 3.5 million ETH (valued at over $11 billion) sitting in its treasury. The company has completely pivoted from crypto-mining to becoming a massive institutional ETH holder — basically the Michael Saylor playbook but for Ethereum.