Cathie Wood Loads Up on BitMine and Bullish in $23.5M Buying Spree
What Did ARK Invest purchase?
ARK Invest, led by Cathie Wood, expanded its exposure to crypto-linked equities on Friday, purchasing over 387,000 shares of BitMine Immersion Technologies and 144,000 shares of Bullish. The allocations, spread across its Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF), are valued at about $16 million in BitMine and $7.5 million in Bullish at current market prices.
The Innovation ETF took the largest share, adding 257,108 BitMine shares and 81,811 Bullish shares, with smaller allocations made by ARKW and ARKF. ARK’s daily trade disclosures, made public since 2020, continue to provide transparency into the firm’s high-conviction bets.
Investor Takeaway
Why Focus on Bullish and BitMine?
The allocations build on ARK’s major August move, when it bought 2.53 roughly $172 million on the platform’s Nasdaq debut. Bullish raised $1.1 largest IPOs, soaring nahead 84% on its first day. The firm, which also owns CoinDesk, , Gibraltar, Singapore, and the U.K., and reported $1.8 billion in trading volume in July.
BitMine, meanwhile, is emerging as a corporate heavyweight in ETH accumulation. Last week, it disclosed $65 million in ETH purchases, bringing its total holdings to more than 1.5% of circulating supply—valued at over $6.3 billion. The concentration makes BitMine one of the most aggressive single-token corporate investors, surpassing peers outside BTC-focused firms like MicroStrategy.
How Does This Fit Into ARK’s Strategy?
ARK has steadily increased positions in crypto infrastructure names, including Coinbase, Robinhood, and Block, all top holdings in ARKK. Wood argues blockchain adoption will drive efficiency across financial markets, with crypto assets becoming a multitrillion-dollar sector by 2030. The combination of exposure to platforms like Bullish and balance-sheet heavyweights like BitMine reflects a dual bet: on trading infrastructure and on token scarcity.
The timing coincides with strong 2025 crypto markets. According to CoinGecko, BTC is up 62% year-to-date and ether up 49%, fueling inflows into digital asset funds and ETFs. ARK’s positions suggest confidence that institutional adoption will accelerate as regulatory clarity improves.
Investor Takeaway
What’s Next for ARK and Crypto ETFs?
ARK’s renewed focus on assets. The in the U.S. in July has attracted more than $12 billion in inflows within two months, further tightening supply on platforms. ARK itself runs multiple blockchain-related ETFs, offering investors direct equity exposure to companies benefiting from the growth of crypto adoption.
For investors, ARK’s trades reaffirm Wood’s conviction-driven approach, targeting disruptive platforms ahead. With crypto prices rallying and regulatory frameworks solidifying, ARK’s latest allocations suggest the firm views further upside in both platform-driven revenue models and ETH-centric corporate strategies.
