ARK Invest Adds Bullish, BitMine, Circle, Robinhood and Bitcoin ETFs – Crypto News

ARK Invest closed out the week with a fresh round of accumulation across several of its flagship funds, picking up positions in Circle, Bullish, BitMine, Robinhood and Bitcoin ETFs as crypto-related equities rebounded.

The largest set of purchases targeted Bullish, with ARK Innovation ETF (ARKK), ARK Fintech Innovation ETF (ARKF) and ARK Next Generation Internet ETF (ARKW) expanding their exposure, according to trade notifications for Friday. Combined, these buys amounted to about $2 million, following Bullish’s 5.75% gain on the day.

ARK also continued accumulating BitMine, with purchases across ARKF, ARKK and ARKW totaling approximately $830,000. BitMine closed slightly lower on the day but remained within its recent trading range near $26.

Furthermore, the firm added small amounts of Circle and Robinhood. It acquired 3,529 Circle shares, worth $250,000, as the stablecoin issuer’s stock climbed more than 6%. ARK also added about $200,000 in new Robinhood shares.

Related: Cathie Wood’s ARK loads up on Circle, BitMine, Bullish as crypto stocks slide

ARK boosts Bitcoin ETF holdings

On Friday, ARK increased its Bitcoin (BTC) ETF exposure by nearly $600,000, led by fresh purchases of the ARK 21Shares Bitcoin ETF (ARKB). The ARKF and ARKW funds together added more than 20,000 shares.

The purchase comes as the US spot Bitcoin ETF market is facing one of its sharpest downturns since its launch. The 12 funds collectively recorded nearly $1 billion in net outflows on Thursday, marking the second-largest daily withdrawal to date and placing the group on pace for its weakest week since February.

Outflows have accelerated throughout the past month, with around $4 billion leaving the products as Bitcoin’s price has slipped roughly 30% from recent highs.

Related: ARK Invest scoops $10M in Bullish as it hits record low amid crypto stock rout

ARK on crypto buying spree

On Thursday, ARK made its largest daily acquisition of the week. The firm snapped up $10.1 million in Coinbase, $9.9 million in BitMine, $9 million in Circle and $9.65 million in Bullish, alongside additional purchases of $16.8 million in Nvidia and $6.8 million in Robinhood.