Ark Invest Adds Nearly $40M of Crypto Equities for Second Day as Sell-Off Continues

Ark Invest Adds Nearly $40M of Crypto Equities for Second Day as Sell-Off Continues

ST. PETERSBURG, Fla. Ark Invest continued its bullish stance on crypto-related equities on Thursday, adding $38.7 million amid a broader downturn in the digital-asset market. The purchases spanned notable names including Coinbase (COIN), Bitmine Immersion Technologies (BMNR), Circle Internet Group (CRCL), and Bullish (BLSH), signaling confidence in the sector despite short-term market weakness. This move underscores Ark Invest’s commitment to maintaining exposure to companies tied to the evolving crypto ecosystem.

The buying activity extends a two-day spree, following Wednesday’s ~$39.6 million of acquisitions in similar crypto-exposed stocks. Analysts note that such strategic investments by Ark could indicate expectations of a rebound or longer-term growth in the cryptocurrency market, even as volatility persists. Investors are watching closely for further signals from the firm’s high-profile trades.

What ARK bought on Thursday

Ark Invest purchased 42,419 shares of Coinbase valued at about $10.1 million using Thursday’s close of $238.16 (−7.44%) and ~380,244 shares of Bitmine Immersion Technologies, worth just under $10 million. The firm also added to Circle Internet Group and Bullish as crypto stocks broadly fell; the CoinDesk 20 Index dropped ~4.7% on the day. CoinDesk+1

Breakdown: Ark Invest adds $38.7 million in crypto equities

Coinbase (COIN)
42,419 shares; ~$10.1M at $238.16 close.

Bitmine Immersion Technologies (BMNR)
~380,244 shares; just under $10M; stock closed near $26.02 (−10%+)

Circle (CRCL) & Bullish (BLSH)
Additional purchases followed Wednesday’s accumulations across ARK’s ETFs.

Why buy into weakness?

ARK has a track record of “buy the dip” allocations during drawdowns. On Wednesday, it spent about $39.6 million across Bullish, Bitmine and Circle; Thursday’s $38.7 million suggests continued conviction in crypto-exposed equities despite heightened volatility. Coinbase’s pullback and Bitmine’s post-pivot swings (after adopting an Ethereum-focused treasury strategy in June) framed the move.

Context on the names

Coinbase (COIN)
Leading U.S. crypto exchange; shares fell to $238.16 Thursday.

Bitmine Immersion Technologies (BMNR)
Crypto infrastructure firm whose ETH-treasury strategy has driven sharp rallies and drawdowns.

Circle Internet Group (CRCL)
USDC issuer; one of 2025’s high-profile IPOs and a recent focus of ARK accumulation.

Bullish (BLSH)
Exchange operator; also bought by ARK this week amid price weakness.

Market backdrop

Crypto assets and related equities fell sharply Thursday amid broader risk-off sentiment; the CoinDesk 20 slid ~4.7%. Broader Friday coverage highlighted liquidity strains weighing on bitcoin and ether.

Analysis

While ARK’s buying aligns with its high-conviction strategy, position outcomes remain sensitive to crypto liquidity and sentiment. Bitmine’s ETH-treasury pivot, for example, amplifies exposure to ether’s price path and funding conditions.

Conclusion

ARK Invest’s second straight session of buying crypto-linked equities highlights its ongoing appetite for risk, even as the broader market faces a downturn. The firm’s continued purchases signal confidence in the sector, suggesting that it sees potential for recovery or long-term growth despite near-term volatility.

Investors are closely monitoring ARK’s moves to gauge market sentiment. The key question is whether sustained accumulation by a major player can help stabilize investor confidence, or if ongoing price swings will test the firm’s commitment to crypto-exposed stocks and the resilience of the broader digital-asset market.

FAQs

Q : What did Ark Invest buy on Thursday?

A : Coinbase, Bitmine Immersion Technologies, Circle Internet Group, and Bullish.

Q : How much did ARK spend?

A : Approximately $38.7 million.

Q : Was this the only buying this week?

A : No. ARK spent about $39.6 million on Wednesday as well.

Q : How did Coinbase perform on the day of purchase?

A : It closed at $238.16, down about 7.44%.

Q : What’s notable about Bitmine (BMNR)?

A : Its volatility is tied to an Ethereum-focused treasury pivot initiated in June 2025.

Q : Did indices reflect the sell-off?

A : Yes, the CoinDesk 20 Index fell about 4.7% Thursday.

Q : Does this mean ARK is bullish on crypto now?

A : ARK often buys on weakness; the purchases signal long-term conviction, not a short-term forecast.

Facts

• Event
  ARK makes second straight day of large crypto-equity buys (~$38.7M)

• Date/Time
  2025-11-21T15:33:00+05:00

• Entities
  Ark Invest; Coinbase Global, Inc. (COIN); Bitmine Immersion Technologies (BMNR); Circle Internet Group (CRCL); Bullish (BLSH)

• Figures
  COIN close $238.16 (−7.44%); BMNR ≈ $26.02 (−10%+); CD20 −4.7% (day)

• Quotes
  “Ark Invest bought another $38.7 million worth of shares in crypto companies on Thursday.” CoinDesk report

• Sources
  CoinDesk (Nov. 21, 2025) + URL; CoinDesk (Nov. 20, 2025) + URL