Cathie Wood’s ARK Invest has expanded its cryptocurrency exposure through recent stock purchases worth $23.5 million. The investment firm bought $16 million in BitMine Immersion Technologies and $7.5 million in Bullish stock across its three flagship ETFs.
Cathie Wood has been actively buying $BMNR and $BLSH, optimistic about Ethereum's future and their benefits. Was today's 6% $BLSH surge due to @ARKInvest? Will the upward trend continue in the coming months? pic.twitter.com/IgGKlm0nJB
— Patient Investor (@PSInvestor) September 6, 2025
The purchases occurred across ARK’s Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF). For BitMine, ARKK led with 257,108 shares, while ARKW added 83,082 shares and ARKF purchased 47,135 shares.
The Bullish purchases followed a similar pattern. ARKK bought 81,811 shares, with ARKW and ARKF adding 39,597 and 22,498 shares respectively.
These latest acquisitions bring ARK’s total BitMine holdings above $300 million. The firm started buying BitMine shares in 2021 and has continued building its position through regular purchases.
BitMine operates as the largest corporate holder of Ethereum. The company owns more than 1.5% of ETH’s circulating supply, all purchased with cash and no leverage.
BitMine recently added $65 million worth of Ethereum to its reserves through six over-the-counter transactions with Galaxy Digital. This purchase came as centralized exchanges face an Ethereum supply squeeze, with reserves down 38% since 2022.
The company’s Ethereum strategy has proven profitable. BitMine shares are up 490% year-to-date despite a recent 8% decline during Wednesday’s trading session.
Revenue growth has matched the stock performance. In the quarter ending May, BitMine reported revenue growth of 67.5% to $2.05 million with net profit margins climbing 43% compared to the same period last year.
ARK’s Bullish investment dates back to August when the firm invested $172 million across all three ETFs during the company’s IPO. Bullish stock surged 83.8% during its first trading day and raised $1.1 billion total.
Bullish owns CoinDesk and operates a global cryptocurrency exchange. The company went public through a traditional IPO after its 2021 SPAC deal collapsed.
The exchange operates regulated entities across Hong Kong, Gibraltar, Singapore, the UK and other jurisdictions. Bullish shares gained 6% on Friday following ARK’s latest purchase.
ARK has also maintained large positions in other crypto-related companies. The firm holds approximately $543 million in Robinhood Markets stock across its funds.
ARK’s strategy involves building positions in companies with cryptocurrency operations or reserves. This approach allows the firm to gain crypto exposure while investing in traditional equity markets through established ETF structures.
The post Cathie Wood’s ARK Invest Purchases $16M BitMine Stock and $7.5M Bullish Shares appeared first on CoinCentral.
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