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ARK Invest Adds BitMine and Bullish Shares as Prices Drop - news.adtechsolutions ARK Invest Adds BitMine and Bullish Shares as Prices Drop - news.adtechsolutions

ARK Invest Adds BitMine and Bullish Shares as Prices Drop


ARK Invest increased its exposure to crypto-linked stocks, scooping up more BitMine Immersion Technologies and Bullish stocks in several of its exchange-traded funds as markets continued to decline.

According to ARK’s trading disclosure from Friday, the ARK Fintech Innovation ETF (ARKF) added 18,089 shares of BitMine, the ARK Next Generation Internet ETF (ARKW) bought 34,637 BitMine shares, while the ARK Innovation ETF (ARKK) added 116,681 shares of BitMine, bringing the total to 116,681 shares for 694 days, for 7.00. it is worth about $5.83 million.

Separately, ARKF bought 8,063 Bullish shares, ARKW added 15,441 shares and ARKK bought 52,011 shares. This brings ARK’s total Bullish buying for the day to 75,515 shares, valued at approximately $2.91 million.

The renewed rally came on a day when both stocks faced heavy selling. Bullish closed up 6.19% at $38.48, while BitMine fell almost 6% at $34.40. Both saw a slight recovery in after-hours trading.

BitMine shares fell nearly 6% on Friday. Source: Google Finance

Related: Cathie Wood’s ARK picks up $46 million in Circle shares as price drops below $90

ARK on buying crypto

ARK’s latest purchases come as the company has been on a crypto buying spree. The signature accumulated 542,269 shares Circle (CRCL). in a two-day period last week, spending about $46 million.

The purchases, $30.4 million on Wednesday and $15.5 million on Thursday, came as CRCL continued its decline, closing at $86 and then $82.30. These are the first purchases Circle of ARK since June, when the company sold about 1.7 million shares at an average of $200, reservation of $352 million.

Alongside Circle, ARK has also added to his position in BitMine. On Thursday, ARK bought 242,347 BitMine shares for about $8.9 million as the stock dipped below $37.

Related: Cathie Wood’s ARK Invest adds BitMine shares as it unloads $30 million in Tesla.

BitMine shakes leadership as its Ether hoard surpasses $11B

As Cointelegraph said, BitMine replaced its chief executive as the company cements its position as the largest public Ether-holding company. The firm announced that Chi Tsang will take over from Jonathan Bates. The company also named three new independent board members.