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Ark Invest acquires $18 million in cryptocurrency stocks, marking its tenth consecutive bullish investment.
Ark also acquired $12 million in crypto-friendly investment platform Robinhood and $4 million in ether treasury firm Bitmine Immersion Technologies.
Ark Invest’s Cathie Wood (Danny Nelson, modified by CoinDesk)
What to know:
- Ark Invest has increased its crypto-adjacent stock portfolio by an additional $18 million on Thursday.
- Ark’s acquisition of Bullish continues its streak of consecutive purchases of equity in the crypto exchange.
- The investment firm also invested $12 million in the crypto-friendly trading platform Robinhood and $4 million in ether treasury firm Bitmine Immersion Technologies.
On Thursday, Ark Invest augmented its holdings by an additional $18 million in crypto-related stocks, which included a $2 million investment in shares of cryptocurrency exchange Bullish (BLSH).
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The firm, based in St. Petersburg, Florida, also acquired $12 million worth of shares in the crypto-friendly platform Robinhood (HOOD) and $4 million in ether treasury firm Bitmine Immersion Technologies (BMNR), as per a disclosure sent via email on Friday.
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Ark’s investment in Bullish, which is the parent company of CoinDesk, has extended its series of consecutive equity acquisitions in the crypto exchange to ten days. The shares of Bullish saw a decline of 0.53%, closing at $31.71 on Thursday.
BLSH shares have risen from a low point of approximately $24 on February 5 to fluctuate around the $30 level over the past week. However, they remain down by more than 16% year-to-date.
HOOD shares dropped 8.9% on Thursday, finishing at $71.12, coinciding with a decline in U.S. tech stocks, which also affected bitcoin prices.
In contrast, Bitmine experienced a 1.39% increase, reaching $19.74.
