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- ARK Invest purchases $4.46M in BitMine, betting on Ethereum’s long-term potential.
- Firm reduces exposure to Robinhood despite stock surge after S&P 500 inclusion.
- Portfolio reshuffle signals institutional confidence in crypto-treasury strategies.
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ARK Invest, led by renowned investor Cathie Wood, is intensifying its crypto-linked equity holdings with a new $4.46 million investment in BitMine Immersion Technologies (BMNR). The firm disclosed the purchase on September 8 across three of its exchange-traded funds, even as it scaled back exposure to Robinhood Markets.
BitMine’s ETH Treasury Powers Growth
The decision to invest in BitMine comes as the Ethereum-focused treasury company continues to deliver notable gains. At press time, BMNR shares traded at $44.08, reflecting a 0.67% increase over the past 24 hours. BitMine’s market strength is largely tied to its Ethereum holdings, estimated between 1.78 million and 2 million tokens—roughly 1.7% of the total ETH supply.
BitMine has previously made headlines for turning a $20 million stake in Eightco Holdings into $628 million in a single day following a 3,000% surge linked to its Worldcoin (WLD) Treasury announcement. These high-profile successes have cemented the firm’s reputation as a leading force in crypto-treasury management.
Why ARK Invest Is Trimming Robinhood
While adding BitMine shares, ARK simultaneously reduced its exposure to Robinhood Markets. The ARK Next Generation Internet ETF (ARKW) sold nearly 44,000 Robinhood shares worth approximately $5.1 million, despite Robinhood’s stock surging 16% after joining the S&P 500 index.
The fund also trimmed positions in Teradyne, though the Robinhood divestment was the most notable. Analysts interpret the move as ARK shifting focus toward companies with stronger crypto fundamentals, particularly Ethereum-backed strategies.
Also Read: Bitcoin to $1.5M? Cathie Wood, Michael Saylor, and Tom Lee Say Institutional FOMO Is Just Beginning
Strategic Portfolio Pivot Signals Confidence in Ethereum
Overall, ARK Invest’s latest portfolio reshuffle signals a strategic pivot toward crypto-treasury plays. By betting on BitMine and reducing holdings in Robinhood, Cathie Wood’s firm is clearly emphasizing long-term confidence in Ethereum’s growth potential.
ARK’s investment in BitMine illustrates a growing trend among institutional investors favoring Ethereum-heavy treasury companies over traditional fintech stocks. This move highlights Ethereum’s enduring appeal as a cornerstone of crypto-linked portfolios.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
