ARK Invest has closed the week with a new round of acquisitions across a number of its flagship fund, including positions in Circle Bullish BitMine Robinhood Bitcoin ETFs and Circle.
According to the trade notifications of Friday, ARK Innovation ETFs ARKK, ARK Fintech Innovation ETFs ARKF and ARK Next Generation Internet ETFs ARKW increased their exposure. The combined amount of these purchases was about $2,000,000, after Bullish’s 5.75 % gain for the day.
ARK has also been accumulating BitMine. The total amount of BitMine purchases made by ARKF across ARKK, ARKW and ARKK is approximately $830,000. BitMine ended the day slightly lower but within its current trading range of $26.
The firm also added small amounts to Circle and Robinhood. As the stock of stablecoins issuer Circle soared more than 6 percent, it acquired 3,529 Circles, valued at $250,000. ARK has also acquired new Robinhood stocks worth around $200,000
Related: Cathie Wood’s ARK loads up on Circle, BitMine, Bullish as crypto stocks slide
ARK boosts Bitcoin ETFs
On Friday, ARK raised its Bitcoin (BTCARKB, the ARK21Shares Bitcoin ETF, has been a major contributor to this increase. The ARKF funds and ARKW fund added together more than 20,000 additional shares.
Purchased at the time that US Bitcoin ETFs are experiencing their sharpest drop since launch. On Friday, the 12 funds had a combined net outflow of $1 billion. It was their second biggest daily withdrawal.
Bitcoin has fallen roughly 30% in price from its recent highs, resulting in an outflow of around $4 billion.
Related: ARK Invest scoops $10M in Bullish as it hits record low amid crypto stock rout
ARK goes on crypto buying spree
ARK’s largest acquisition ever was made on Thursday. The company bought Coinbase for $10.1m, BitMine for $9.9m, Circle, Bullish and Circle, all worth $9.65m, and Nvidia, Robinhood and Nvidia, each valued at $16.8m.
Earlier, it was used by the company purchased $16.8 million On Wednesday, BitMine, Circle, and Bullish ETFs collectively held approximately $15 million worth of shares.
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Source: cointelegraph.com
