ARK Invest, led by Cathie Wood, has significantly increased its investments in cryptocurrency, purchasing $16 million worth of shares in BitMine Immersion Technologies and $7.5 million in Bullish, a cryptocurrency exchange. This investment spans three of its flagship ETFs: the Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF). The firm acquired over 387,000 shares of BitMine and 144,000 shares of Bullish. Specifically, ARKK was the largest buyer for both companies, indicating a strong belief in their potential. This latest investment follows ARK's August allocations where they invested around $172 million in these ETFs. Meanwhile, BitMine has become a major holder of Ether, having increased its holdings to over 1.5% of Ethereum's circulating supply while operating with cash and avoiding leverage. This comes amid a significant supply squeeze of Ether on centralized exchanges as demand rises.

Source đź”—