Ark Invest Adds $9M in BitMine as Cathie Wood Doubles Down on Crypto
Cathie Wood’s Ark Invest doubled down on its crypto exposure this week, snapping up 240,507 shares of BitMine (BMNR) worth roughly $9 million across three of its exchange-traded funds – even as the stock slid nearly 10% on Thursday.
The purchases were spread across Ark’s top innovation-focused ETFs: the Ark Innovation ETF (ARKK) added 167,348 shares valued at about $6.3 million, the Next Generation Internet ETF (ARKW) picked up 48,361 shares worth $1.8 million, and the Fintech Innovation ETF (ARKF) bought 24,798 shares worth nearly $927,000, according to company disclosures.
Ark’s funds typically cap any single position at 10% of total assets, a strategy designed to preserve diversification while maintaining…
