ARK Invest purchases $47M worth of Coinbase and BitMine shares during the recent stock dip, signaling renewed confidence in crypto equities.
ARK Invest Seizes the Dip: $47M Crypto Equity Bet
In a bold move during a volatile trading week, Cathie Wood’s ARK Invest has made a significant bet on the future of crypto equities. The firm acquired over $47 million in shares from two prominent crypto-related firms, Coinbase and BitMine Immersion Technologies, as both stocks experienced sharp declines.
Despite recent turbulence in the market, ARK's aggressive accumulation underscores a long-term conviction in the digital asset ecosystem. With rising institutional interest and expanding crypto adoption, this repositioning could be a calculated bet on a rebound.
$30 Million Worth of Coinbase Shares Bought
Coinbase, one of the world’s largest crypto exchanges, saw its stock tumble by over 16% on Friday, marking its worst single-day performance in recent memory. ARK took full advantage.
Across three of its flagship ETFs—the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF)—ARK scooped up 94,678 shares of Coinbase, valued at approximately $30 million.
This purchase follows a pattern of alternating buying and selling behavior. Earlier in the week, ARKW offloaded 18,204 Coinbase shares, roughly worth $7 million. The sudden reversal indicates that ARK is playing an opportunistic game, ready to pounce when valuations become attractive.
At Friday’s close, Coinbase stock was priced at $314.69, having briefly hit an intraday low of $310.55. This drop placed it far below its recent 52-week high of $444.64.
Doubling Down on BitMine: $17 Million in Fresh Buys
Not stopping at Coinbase, ARK also increased its stake in BitMine Immersion Technologies, a growing player in the Bitcoin mining space.
The firm purchased 540,712 shares of BitMine across the same three ETFs. The move, valued around $17 million, came as BitMine’s stock dropped 8.5% to end the day at $31.68. It briefly touched an intraday low of $30.30 during choppy afternoon trading.
ARK has been steadily accumulating BitMine over recent weeks. Just days prior, it had acquired over $20 million in shares, following an even larger $182 million investment the week before. Clearly, BitMine is becoming a cornerstone in ARK’s evolving crypto infrastructure play.
BitMine’s Pivot to Ethereum Is a Strategic Move
What’s fueling ARK’s enthusiasm for BitMine? The company is shifting its focus from traditional Bitcoin mining to Ethereum reserves and staking.
According to recent disclosures, BitMine now holds the largest Ethereum treasury among corporate entities, with over 625,000 ETH under management. This puts it ahead of SharpLink Gaming, which holds 438,200 ETH.
This strategic pivot towards Ethereum reflects a broader trend: staking and smart contract utility are becoming more attractive to institutional players than raw Bitcoin mining, especially in the current energy and regulatory landscape.
Broader Market Turmoil Sets the Stage
ARK’s bullish move came amid a difficult day for broader markets. U.S. stocks plunged as fresh job data disappointed and new tariffs under the Trump administration spooked investors.
The Dow Jones Industrial Average fell 542 points, its steepest single-day decline since June. Meanwhile, the S&P 500 and Nasdaq both experienced their worst days in months.
A major catalyst was the July jobs report, which revealed just 73,000 new jobs—far below expectations. Revisions to earlier months further highlighted a cooling labor market.
Banking stocks led the decline. JPMorgan dropped more than 2%, while Bank of America and Wells Fargo each fell over 3%. Industrial powerhouses like Caterpillar and GE Aerospace also took hits.
In this landscape of weakness, ARK’s crypto bets stand in stark contrast to the risk-off sentiment in traditional finance.
Cathie Wood’s Crypto Confidence Remains Steadfast
Cathie Wood has long been one of the most vocal champions of digital assets among major institutional investors. Her funds were early backers of Coinbase, and she has consistently advocated for Bitcoin, Ethereum, and blockchain’s potential to disrupt traditional financial rails.
Despite facing criticism for volatility and underperformance in 2022–2023, Wood has stayed the course. This latest $47 million investment reinforces that ARK isn’t backing down.
Instead, it’s leaning in, embracing the current market downturn as a chance to accumulate high-conviction assets at lower prices.
Strategic Rebalancing or Prepping for a Rally?
There’s debate among analysts about whether this move is part of a long-term rebalance or a short-term bet on a bounce.
Some suggest ARK is betting that the recent correction in crypto equities is temporary and that both Coinbase and BitMine are undervalued relative to future earnings potential.
Others believe it’s more of a strategic hedge. By spreading exposure across multiple funds and both centralized exchange and mining sectors, ARK may be preparing for multiple possible crypto narratives to play out, whether that’s regulatory clarity, ETF inflows, or the continued expansion of Ethereum staking.
Looking Ahead: What This Signals to the Market
ARK Invest’s latest moves send a strong signal to other institutional players. When one of the most high-profile asset managers doubles down on crypto equities amid a pullback, it may encourage others to reevaluate their allocations.
In a market that’s often driven by sentiment, confidence from a major fund can shift momentum. Whether or not prices rebound immediately, ARK’s actions suggest they’re playing the long game and are willing to endure short-term volatility for long-term gain.
Investors and crypto watchers alike will be keeping a close eye on both Coinbase and BitMine in the coming weeks. Any bounce from current levels could validate ARK’s contrarian strategy.
