Ark Invest purchased $18 million worth of shares, involving Bullish, Robinhood, and Bitmine Immersion. Ark has been buying for 10 consecutive days, betting on a bear market.
Ark Invest’s purchases came at a particularly delicate time for the crypto market. With Bitcoin retreating toward the $60,000 mark and sentiment indicators near all-time lows, the environment reflected a clear aversion to risk. In this context, Ark chose to do the exact opposite of the consensus: deploy capital.
On February 13, the firm allocated approximately $18 million to new positions. The majority of the amount, close to $12 million, went to Robinhood, while about $4 million was allocated to Bitmine Immersion Technologies and around $2 million to Bullish, extending a streak of sustained purchases in the latter.
These acquisitions didn’t happen in a vacuum. In fact, they came just days after Ark reduced its exposure to Coinbase, with sales totaling more than $40 million over several days. Thus, the freed-up capital was quickly redirected toward companies that the asset manager considers strategic within the crypto infrastructure ecosystem.
Ark Invest’s strategic rebalancing amid volatility
Ark reduced its exposure to a well-established exchange and instead strengthened its positions in trading platforms and players with exposure linked to digital infrastructure and treasury.
This shift suggests selective conviction rather than a broad directional bet on the market. In other words, the firm isn’t necessarily anticipating an immediate Bitcoin rebound, but rather appears to be focusing on companies that could capture more market share or strengthen their structural position when the cycle improves.
At the same time, the strategy increases the portfolio’s idiosyncratic risk. Greater concentration in specific companies implies more potential volatility, although it also opens up room for outperformance if those companies manage to capitalize on the competitive environment.
Looking ahead to the coming weeks, the market will be watching for new regulatory filings and updates from the fund to determine whether this shift will continue or if it’s part of a more tactical adjustment. For now, the message is clear: Ark is willing to add exposure during periods of weakness, betting on the structural strength of the crypto infrastructure rather than short-term noise.
