Cathie Wood’s Ark Invest bought more shares in BitMine, Coinbase, and Bullish on Wednesday, as its exchange-traded funds stock up on crypto equities that are extending a downward trend.
According to its trade filing, Ark Invest purchased $10.56 million worth of shares in BitMine, the world’s largest Ethereum treasury company, across its three exchange-traded funds on Wednesday. This adds on top of the $17 million purchase of BitMine shares that Ark made on Monday.
Ark also bought $5.9 million worth of Coinbase shares and $8.85 million worth of Bullish on Wednesday.
The company is increasing exposure to these crypto stocks while they trade at a notable discount. BitMine (BMNR) slid 6.59% on Wednesday to close at $29.32, down about 24% from its price five days ago.
Coinbase fell 3.33% on Wednesday to $244.19, down 8.78% in the past five days. Bullish dropped 1.89% to $42.15, falling 6.41% over five days.
The continued accumulation of crypto equities appears to reflect the bullish outlook of Ark Invest founder and CEO Wood, who previously predicted a “real break” in inflation in the coming year.
BitMine Chairman Tom Lee shares his positive view on the near-term future of crypto. The company has been consistently buying sizable amounts of ether weekly, even amid the ongoing crypto market downturn. Citing regulatory and legislative shifts in Washington and stronger institutional engagement, Lee said “the best days for crypto” lie ahead.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
