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ARK Invest bought $15.6 cardinal shares of ether treasury institution Bitmine Immersion Technologies (BMNR) connected Wednesday.
The St. Petersburg, Florida-based concern manager added a full of 339,113 BMNR shares to 3 of its exchange-traded funds (ETFs) — Innovation (ARKK), Next Generation Internet (ARKW) and Fintech Innovation (ARKF) — according to an emailed notification.
Bitmine shares fell 7.85% to $46.03 connected Wednesday.
The company, led by Fundstrat's Tom Lee, is 1 of the largest firm holders of ether, having purchased implicit 1.7 cardinal tokens, worthy conscionable nether $8 cardinal astatine existent prices.
The Cathie Wood-led Ark Invest often loads up connected shares successful companies erstwhile their shares instrumentality a deed and offloads them erstwhile they've enjoyed a surge to support its targeted weighing of antithetic holdings wrong its ETFs.
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