Ark Invest acquired 240,507 BitMine shares across three of its ETFs, taking advantage of the 9.8% price drop.
The firm led by Cathie Wood purchased 167,348 shares for the Ark Innovation ETF (ARKK), 48,361 for the Ark Next Generation Internet ETF (ARKW), and 24,798 for the Ark Fintech Innovation ETF (ARKF). The company’s strategy limits exposure to any single asset to a maximum of 10% of each portfolio, maintaining diversification across its funds. Currently, BitMine accounts for 2.3% of ARKK and ARKW, and 2.4% of ARKF.
Ark’s move signals confidence in BitMine despite its recent price decline, deepening its position in the largest public Ethereum holder.
Source: https://www.ark-funds.com/funds/arkk#hold
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