BlackRock and ARK Invest have collectively purchased over $130 million in Bitcoin as institutional interest in the cryptocurrency market continues to surge.
The acquisitions, made through Coinbase Prime, reinforce Wall Street’s growing confidence in Bitcoin as an asset class.
A recent transaction recorded on the Bitcoin blockchain shows that BlackRock’s iShares Bitcoin Trust (IBIT) acquired 200.1 BTC, valued at approximately $16.26 million.
The transaction was processed through Coinbase Prime and confirmed on March 18, 2025. This latest purchase aligns with BlackRock’s strategy of expanding its Bitcoin exchange-traded fund (ETF), which has attracted significant institutional inflows since its inception.
ARK Invest, led by CEO Cathie Wood, made an even more significant acquisition, purchasing 997 BTC worth $80 million on March 13, 2025.
The firm has been an outspoken advocate of Bitcoin, with Wood predicting its price to reach $1.5 million by 2030.
ARK Invest has also bolstered its stake in Coinbase, acquiring 64,358 shares valued at approximately $11.53 million. The firm’s ARKB fund now holds 48,479 BTC, worth over $4 billion.
Wood’s enthusiasm for Bitcoin was evident at the Digital Asset Summit in New York, where she reaffirmed her firm’s commitment to the cryptocurrency space.
She highlighted the growing potential of tokenization, stating, “We think tokenization is going to be huge. We’d love to be able to tokenize our Venture Fund (ARKVX) or our [Digital Asset] Revolution Fund.”
Despite the bullish outlook on Bitcoin, Wood remains sceptical of meme coins, calling them speculative assets with little long-term value.
“There are millions of meme coins being created, and they are not going to be worth very much,”
She said in an interview with Bloomberg Television. She warned investors that the U.S. Securities and Exchange Commission (SEC) does not intend to regulate memecoins, cautioning,
“If I have one message for those listening who are buying meme coins: buyer beware.”
Institutional interest in Bitcoin has grown amid increased regulatory clarity and the broader adoption of cryptocurrency-based financial products.
BlackRock’s Bitcoin ETF has drawn significant investment, and ARK Invest’s strategic acquisitions further emphasize the asset’s appeal to institutional investors.
At press time, ARK Invest’s ARKK fund holds 2,077,845 Coinbase shares, valued at $392.6 million, making it the third-largest position in the portfolio. The firm’s continued investment in Bitcoin and cryptocurrency-related stocks underscores its belief in the sector’s long-term growth potential.
