On Tuesday, Cathie Wood-led Ark Invest executed significant trades, focusing on Bitmine Immersion Technologies Inc. (NYSE:BMNR) and Block Inc. (NYSE:XYZ). These trades reflect Ark’s strategic positioning in the market amidst evolving financial landscapes.
The Bitmine Trade saw Ark Invest making substantial investments in Bitmine Immersion across multiple ETFs, including Ark Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK), and ARK Next Generation Internet ETF (BATS:ARKW). This move comes after Bitmine’s recent announcement regarding its Ethereum (CRYPTO: ETH) holdings, which have now surpassed $2 billion.
The shares slipped recently after the filing of a shelf offering to register securities for sale by selling stockholders. The total shares purchased amounted to 477,498, with the closing price of $32, making the transaction worth $15.3 million.
The Block Trade involved Ark Invest reducing its holdings of the Bitcoin (CRYPTO: BTC)-focused company through the ARKF ETF. The Jack Dorsey-led company recently made headlines with its upcoming inclusion in the S&P 500, which led a spike in the shares after the news was revealed.
Ark decided to sell 18,843 shares of Block. The trade was valued at $1.5 million as the stock ended Tuesday at $78.18.
Other Key Trades:
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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