Hedge fund ARK Invest significantly increased its holdings in crypto-related companies, buying a combined $8.74 million worth of shares in BitMine and Bullish on Friday. This follows a broader trend at the firm to invest heavily in the sector despite market declines. 📈 💰 💻 🏦 ARK Invest’s latest purchases demonstrate their continued optimism in the crypto space. They acquired a total of 169,407 shares of BitMine for roughly $5.83 million and 75,515 shares of Bullish worth approximately $2.91 million. These moves are part of ARK Invest’s ongoing strategy to invest in companies like BitMine and Bullish as they transition into major institutional holders of Ethereum (ETH), with BitMine boasting over 3.5 million ETH in its treasury. ARK has been steadily increasing its stake in crypto-related companies, adding more shares of these firms even amidst market fluctuations. The firm’s recent purchases also follow a pattern of increased activity seen in the past few weeks, particularly after buying $46 million worth of Circle (CRCL) shares over two days, while Bullish and BitMine faced heavy selling pressure on Friday. ARK Invest’s latest moves come as part of a broader trend across their various ETFs. For example, they’ve increased their positions in biotech companies like Twist Bioscience, Beam Therapeutics, and Tempus AI, alongside reducing positions in Iridium Communications and Veracyte. Meanwhile, ARKG saw expanded holdings in Tempus AI, Beam, Twist Bioscience, CRISPR, and Regeneron. 🧐