- ARK Invest received nearly 998 BTC ($80M) in a single day.
- The largest transfer of 499.134 BTC ($40.37M) came from Coinbase.
- Bitcoin price continues to show volatility, dipping to $79K in the last 24 hours
While other institutions are selling, ARK Invest is buying. The firm purchased nearly $80 million worth of Bitcoin in multiple transactions on Wednesday, according to blockchain analytics platform Arkham Intelligence. The Bitcoin buys came via Coinbase.
The most significant recorded transfer was 499.134 BTC, worth $40.37 million. Shortly after, another 498.6 BTC, worth $41.07 million, followed. This accumulation reinforces ARK’s commitment to Bitcoin investment through its ARKB 21Shares ETF.
In addition to Bitcoin purchases, ARK Invest increased its stake in Coinbase (COIN) stock. The firm acquired 64,358 shares valued at approximately $11.53 million. This marks its largest Coinbase investment since August 2024.
ARK Bucks the Trend: Institutional Outflows Continue
Institutional investors have been crucial in Bitcoin’s market dynamics. But while ARK Invest has been accumulating Bitcoin, overall institutional outflows from spot Bitcoin ETFs have reached $1.1 billion in recent weeks. ARK itself sold $9 million worth of Bitcoin ETFs, aligning with a broader trend of institutions adjusting their holdings.
Related: Standard Chartered: Bitcoin Correction Linked to Stock Market Dip
The outflows from Bitcoin ETFs mirrored the major correction in the spot market, with Bitcoin dropping to $76K. Multiple factors have influenced the selling pressure in the crypto market, including a declining U.S. stock market, inflation concerns, and trade policy uncertainties.
These elements have contributed to Bitcoin’s price fluctuations. While Bitcoin briefly recovered to over $84K after the $76K low, it has since slipped to $79K in the last 24 hours.
Related: Bitcoin ETF Inflows: A False Dawn Before a Price Correction—Price Analysis
Cathie Wood: Still Bullish on $1M Bitcoin
Despite the current volatility, ARK Invest CEO Cathie Wood remains firmly optimistic about Bitcoin’s long-term potential.
She has previously predicted that Bitcoin could reach $1 million per coin by 2030. She further cited growing institutional adoption and macroeconomic shifts as key drivers.
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