Ark Invest Buys Over 550,000 BitMine Shares and 43,553 Bitcoin ETF Units
Ark Invest expanded its crypto-related holdings by acquiring millions in BitMine, Coinbase, and Bullish shares, reinforcing its long-term investment strategy amid ongoing market declines.
BTC
Summary
On December 18, Ark Invest purchased $10.56 million worth of BitMine shares, $5.9 million in Coinbase stock, and $8.85 million in Bullish holdings through its ARKK, ARKW, and ARKF ETFs. BitMine's price fell 6.59% to $29.32, marking a 24% drop over the past five days, while Coinbase and Bullish declined 3.33% and 1.89% respectively. These acquisitions follow Ark's continued approach of maintaining diversified exposure to digital asset sectors despite short-term volatility.
Terms & Concepts
- Bitcoin ETF: An exchange-traded fund that tracks the price of Bitcoin, allowing investors to gain exposure without directly owning the cryptocurrency.