Ethereum Updates Today: Ark's Optimistic Move Stands Out Amid Crypto Market Downturn

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Ethereum Updates Today: Ark's Optimistic Move Stands Out Amid Crypto Market Downturn

Bitget-RWA2025/11/21 10:58

By:Bitget-RWA

- Ark Invest spent $10.2M via three ETFs to buy Bullish shares, a Thiel-backed crypto exchange, amid broader market declines. - Bullish's stock fell 4.5% despite Ark's purchases, though Q2 profits rose sharply from $116M loss to $108M gain. - Ark's crypto strategy focuses on firms with regulatory progress (e.g., NY license) and financial resilience, including Circle and BitMine investments. - The firm divested Tesla/AMD shares while Bitcoin fell below $90K, highlighting shifting priorities toward crypto an

On Monday, Ark Invest, under the leadership of Cathie Wood, invested close to $40 million in stocks tied to the cryptocurrency sector, marking its second consecutive day of substantial buying as digital assets experienced a broader downturn. The company distributed $10.2 million among three of its exchange-traded funds (ETFs) to purchase shares in Bullish, a crypto trading platform supported by Peter Thiel. The

ARK Innovation ETF

(ARKK) acquired 191,195 shares, the

ARK Next Generation Internet ETF

(ARKW) picked up 56,660 shares, and the

ARK Fintech Innovation ETF

(ARKF) secured 29,208 shares,

as detailed in the firm's trading disclosure

Ethereum Updates Today: Ark's Optimistic Move Stands Out Amid Crypto Market Downturn image 0

Bullish's shares ended Monday down 4.5% at $36.75, extending a recent slide even as Ark ramped up its purchases. The platform, which has just introduced spot trading in the U.S. after obtaining a license in New York,

posted $57 million in adjusted revenue

for the second quarter—a 10% year-over-year drop—but managed to achieve a net profit of $108.3 million, reversing a $116.4 million loss from Q2 2024. Bullish is scheduled to announce its third-quarter results on Nov. 19, with

analysts expecting revenue

of $71.25 million.

This year, Ark has increased its crypto holdings, recently adding $7.28 million in Bullish, $15.56 million in Circle, and $8.86 million in BitMine to its portfolio

according to reports

. The firm's approach seems to focus on companies that are making regulatory advances and showing strong financial performance.

Bullish's latest regulatory achievement

—gaining a New York license—has helped establish it as a major force in the U.S. crypto landscape, with total trading volume exceeding $1.5 trillion since late 2021.

The overall cryptocurrency market continues to face downward pressure, with

Bitcoin

falling below $90,000, reaching its lowest point in six months, and

Ethereum

(ETH) hovering around $3,000. BitMine Immersion Technologies, a treasury firm focused on Ethereum, acquired 54,156

ETH

last week, bringing its total holdings to 3.56 million coins. Nevertheless,

the company is facing unrealized losses exceeding $4 billion

as ETH prices continue to drop. In contrast, Ark's latest acquisitions come as it reduces its positions in Tesla and AMD,

signaling a strategic pivot

toward cryptocurrency and fintech investments.

On social platforms like Stocktwits, retail investors have become "extremely bullish" on Bullish, with

traders interpreting Ark's recent buys

as a sign of insider optimism ahead of the earnings release. Market experts remain split on the future of crypto, with some, such as BitMine's Tom Lee,

forecasting a prolonged "supercycle" for Ethereum

despite ongoing short-term fluctuations.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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