Ark Invest Adds $47 Million in Crypto Stocks After Earnings Dip

* Ark Invest purchases $30 million in Coinbase stock and $17 million in BitMine shares amid market turbulence. * Coinbase and BitMine share prices decline following earnings news and market shifts. On August 2, 2025 (UTC), Cathie Wood-led Ark Invest purchased $47 million in crypto-related stocks following significant volatility in Coinbase (COIN) and BitMine Immersion Technologies (BMNR). These acquisitions reflect Ark’s ongoing commitment to crypto and fintech investments amid fluctuating market conditions. Coinbase's stock dropped a notable 16.7% after the company released quarterly earnings that fell short of expectations. Despite this downturn, Ark Invest seized the opportunity. The firm allocated the purchases across its ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). This strategic move underscores Ark's focus on advancing its exposure to crypto-related equities despite temporary market setbacks. Similarly, Ark Invest deepened its holdings in BitMine Immersion Technologies, an Ethereum treasury firm that holds 625,000 ETH. The firm's ARKK fund drove $11.6 million of this latest acquisition. Over the past week, Ark’s investment in BitMine stock surged to a cumulative $52.4 million, showcasing a consistent buying trend. However, BitMine's share price dropped 8.6% on Friday, reflecting continued market turbulence despite Ark’s substantial inflows. Ark Invest’s recent actions highlight a calculated strategy of leveraging stock price dips in companies central to cryptocurrency and blockchain innovation. By distributing investments across its thematic funds focused on technology and financial evolution, the firm reaffirms its long-term commitment to crypto-related ventures. As of August 2 at 19:09 UTC, Ethereum (ETH) was trading at $3,390.64. According to CoinMarketCap on August 2, this price marks a 4.64% decline in 24-hour activity.