{"id":40223,"date":"2025-08-03T20:02:39","date_gmt":"2025-08-03T20:02:39","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=40223"},"modified":"2025-08-03T20:02:39","modified_gmt":"2025-08-03T20:02:39","slug":"ark-invest-splashes-47-m-on-coinbase-bitmine-shares-after-us-stock-market-drawdown","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=40223","title":{"rendered":"Ark Invest Splashes $47-M On Coinbase, BitMine Shares After US Stock Market Drawdown"},"content":{"rendered":"
\n

Asset management firm Ark Invest<\/a> has expanded its stock holdings of US-based centralized exchange Coinbase and blockchain technology company Bitmine. This $47 million purchase of crypto-related stocks came on Friday, August 1, following the dip in the US equities market due to weak economic data and newly adjusted tariff policies.<\/p>\n

Ark Invest Renews Interest In Coinbase Stock With $30-M Purchase<\/b><\/h2>\n

According to the firm\u2019s latest trading disclosure<\/a>, Ark Invest added a total of 94,678 shares (worth about $29.8 million) of Coinbase (COIN) across three of its funds, including the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).<\/p>\n

Interestingly, Cathie Wood-led<\/a> asset manager seized the opportunity to \u201cbuy the dip\u201d after the price of Coinbase\u2019s stock fell by more than 16% on Friday. The price of COIN closed at $314.69 on the day, representing one of the stock\u2019s worst single-day performances ever.<\/p>\n

Moreover, this strategic acquisition looks like a complete reversal of Ark Invest\u2019s recent trend of dumping the Coinbase stocks. On Monday, July 28, ARK Next Generation Internet ETF (ARKW) sold 18,204 shares of COIN (equivalent to about $7 million based on the day\u2019s closing price of $379.49).<\/p>\n

Ark Invest also increased its holdings of BitMine Immersion Technologies (BMNR), acquiring 540,712 shares (worth about $17 million) across the aforementioned three funds on the same day. This purchase came on the back of BMNR\u2019s price decline of over 8% to close at $31.68.<\/p>\n

However, unlike Coinbase\u2019s stock, Ark Invest has been steadily adding BitMine\u2019s shares to its portfolio over the past few weeks. On Monday, the asset management firm bought<\/a> more than $20 million worth of BNMR shares across the ARKK, ARKW, and ARKF funds.<\/p>\n

More notably, Ark Invest increased its position in the BitMine company through an estimated $182 million stock purchase in the previous week. This increased interest from Ark Invest comes amidst BitMine\u2019s strong rotation into Ether, becoming the largest ETH treasury firm with 625,000 tokens in holdings.<\/p>\n

COIN Price Overview<\/b><\/h2>\n

As of the close of trading hours on Friday, the price of Coinbase stock<\/a> stood at around $314.69, reflecting a 16.7% decline on the day. While the past week\u2019s performance (almost a 20% drop) might have put a dampener on the mood of investors, it is worth noting that the COIN price is up by more than 50% in the past 3 months.<\/p>\n

The positive performance of the Coinbase stock can be associated with the improving climate of the crypto market. Meanwhile, the COIN stock is up by 22% so far this year.
\n\"Coinbase\"<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Asset management firm Ark Invest has expanded its stock holdings of US-based centralized exchange Coinbase and blockchain technology company Bitmine. This $47 million purchase of crypto-related stocks came on Friday, August 1, following the dip in the US equities market due to weak economic data and newly adjusted tariff policies. Ark Invest Renews Interest In […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-40223","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/40223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40223"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/40223\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}