ARK Invest's Big Crypto Move: What's the Deal?
ARK Invest has been making serious moves in the crypto world. They recently purchased over 105,000 shares in Bullish, the company behind CoinDesk, in a deal worth approximately $5.3 million.
A History of Crypto Investments
This isn't ARK's first foray into crypto. They've been actively investing in the sector for some time. In fact, they were among the first investors in Bullish when it went public earlier this year, with an initial investment of $172 million.
A Diversified Crypto Portfolio
ARK isn't putting all its eggs in one basket. Their portfolio includes major players like:
- Coinbase
- Robinhood
- Circle
- BitMine (crypto mining)
Their total exposure to crypto and blockchain companies exceeds $2.15 billion.
Shifting Focus from Traditional Tech
To fund these investments, ARK has been trimming holdings in traditional tech companies such as Palantir and Shopify. This suggests a strategic shift toward digital assets.
Significant ETF Exposure to Crypto
ARK's three main ETFs—ARKK, ARKW, and ARKF—all have substantial crypto exposure:
- ARKF: 29% of its portfolio in crypto-related assets
- ARKW: 25.7%
- ARKK: 17.7%
Beyond Stock Investments: Crypto ETFs
ARK isn't just buying shares. They're also involved in crypto ETFs, with products tied to staking of ether and solana. This indicates deep engagement in the crypto ecosystem.