Cathie Wood's ARK Invest widened its crypto exposure on Friday, buying 5,264 shares of BitMine Immersion Technologies and adding to the 3iQ Solana Staking ETF across two of its funds. The combined ETF purchase came to about $168,400.
ARK Invest, run by Cathie Wood, widened its Solana and crypto-stock exposure on Friday, buying into the 3iQ Solana Staking ETF and Ethereum treasury company BitMine Immersion Technologies through its exchange-traded funds.
ARK adds BitMine stock and the Solana staking fund
The firm's largest fund, the ARK Innovation ETF (ARKK), bought 5,264 shares of BitMine Immersion Technologies (BMNR) for about $83,100, based on Friday's closing price of $15.79. That stake accounted for approximately 0.0014% of ARKK's holdings. The BitMine purchase came alongside other ARKK moves, including adding to X-Energy and trimming Figma.
ARK also raised its position in the 3iQ Solana Staking ETF (SOLQ.U) through two more funds. The ARK Next Generation Internet ETF (ARKW) picked up 16,917 shares. Its ARK Fintech Innovation ETF (ARKF) added another 11,101 shares.
At Friday's close, the ARKW purchase was worth about $101,700 and the ARKF buy about $66,700. Together, the two funds bought 28,018 shares worth approximately $168,400 at the market close.
Wood's buying came as the Solana-based product slipped $0.13, or 2.12%, to $6.01 on Friday.
A busy week of ARK trades
The crypto buys followed an active week of trading. On Thursday, ARK poured almost $60 million into Tesla, Circle Internet Group and Securitize Corp during a broad market sell-off. Tesla was the biggest of those purchases, with over $51 million added across Wood's ETFs.
Earlier in the week, the firm also picked up $14 million worth of SpaceX stock. Friday's disclosures showed further rebalancing, with sales in Figma, Strata Critical Medical, ATAI Life Sciences and Elbit Systems and purchases in X-Energy, Pony AI, Kodiak AI, Scribe Therapeutics and Compass Pathways.
Source: CoinGape
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