Cathie Wood’s ARK Invest Increases Exposure To BitMine Stock, Solana Staking ETF

On Friday, Cathie Wood-led ARK Invest upped its exposure to crypto-related assets. For this, it purchased shares of both the 3iQ Solana Staking ETF and Ethereum treasury company BitMine Immersion Technologies through its exchange-traded funds (ETFs).

Cathie Wood’s ARK Buys BitMine Stock, 3iQ Solana Staking ETF

The company’s largest ETF, ARK Innovation ETF (ARKK), bought 5,264 shares of BitMine Immersion Technologies (BMNR). The purchase was for about $83,100, based on the closing price on Friday of $15.79. The acquisition accounted for approximately 0.0014% of the holdings in ARKK’s portfolio.

The acquisition of the BitMine stock was also part of other changes to ARKK’s portfolio. It included buying more of X-Energy and selling off some of its holdings in Figma. Although the transaction represents a small slice of ARK’s total portfolio, it is another boost to the firm’s presence in digital asset businesses.

Also, Cathie Wood’s ARK raised its holding in the 3iQ Solana Staking ETF (SOLQ.U) via two of its funds. The ARK Next Generation Internet ETF (ARKW) bought 16,917 shares, and the ARK Fintech Innovation ETF (ARKF) purchased 11,101 shares.

Based on Friday’s closing share price, the ARKW stock bought was valued at about $101,700 a piece and ARKF was valued at about $66,700. Together, the two funds bought a total of 28,018 shares worth of approximately $168,400 at the market close, per latest disclosure.

Cathie Wood’s buy moves came as the Solana-based investment product tumbled $0.13, or 2.12%, to $6.01 on Friday’s trading session.

Other Crypto & AI Investments

The recent trades come after a very active trading week earlier this week when ARK loaded up on a number of stocks across the U.S. market in the midst of a broad sell-off. ARK Invest poured in almost $60 million in Tesla, Circle Internet Group and Securitize Corp. on Thursday. At the time, the Tesla stock emerged as the biggest purchase with over $51 million added to Cathie Wood’s ARK ETFs.

In addition, the investment firm had also raked in $14 million worth of SpaceX stock earlier this week.

Friday’s disclosures also revealed other portfolio rebalancing within ARK’s funds, including sales of stocks in Figma, Strata Critical Medical, ATAI Life Sciences and Elbit Systems, and purchases in X-Energy, Pony AI and Kodiak AI, as well as Scribe Therapeutics and Compass Pathways.

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