Ark Invest makes a major purchase of stocks in publicly traded crypto companies, with three ETFs adding over $25 million in a single day

【Chain News】The major crypto investment giants are making moves again. Well-known asset management firm Ark Invest on Wednesday heavily purchased stocks of publicly traded companies related to crypto through three of its ETF products. The scale of this buying spree is significant — within a single day, they invested $10.56 million in BitMine (BMNR), $5.9 million in Coinbase, and another $8.85 million in Bullish.

The logic behind this operation is straightforward: buy the dip while these crypto stocks are plunging. Market data is clear — BitMine dropped 6.59% on Wednesday, closing at $29.32, with a total decline of 24% over five days; Coinbase fell 3.33% to $244.19 on Wednesday, down 8.78% over five days; Bullish performed slightly better but still declined, dropping 1.89% to $42.15 on Wednesday, with a five-day decline of 6.41%.

From the timing, these stocks are all at relatively low levels, and institutional investors are clearly betting on a rebound. In the current highly volatile crypto market, this kind of buying on dips is becoming increasingly common among institutions.