Cathie Wood's ARK Invest makes significant bets on Ethereum's BitMine Immersion and trims Bitcoin giants.

Cathie Wood's ARK Invest ETFs purchased 4.42 million shares of BitMine Immersion Technologies (BMNR) for $174.9 million. Wood also bought shares of NU Holdings and Advanced Micro Devices, but trimmed her stake in bitcoin-holding companies Coinbase Global, Block, Robinhood Markets, and Roblox Corp. The purchases were made through multiple ARK funds, including ARK Fintech Innovation ETF, ARK Innovation ETF, and ARK Next Generation Internet ETF.

ARK Invest, led by Cathie Wood, has made significant moves in the cryptocurrency market by purchasing 4.42 million shares of BitMine Immersion Technologies (BMNR) for $174.9 million. This strategic acquisition was part of a broader portfolio adjustment, where Wood also bought shares of NU Holdings and Advanced Micro Devices, while trimming her stake in several bitcoin-holding companies such as Coinbase Global, Block, Robinhood Markets, and Roblox Corp. [1]

The purchase of BMNR shares was made through multiple ARK funds, including the ARK Fintech Innovation ETF, ARK Innovation ETF, and ARK Next Generation Internet ETF. This move comes as BitMine's Ethereum (ETH) holdings surpassed $1 billion following a $250 million private placement. The stock has seen a significant increase, rising by 799.3% in the last 30 days. [2]

ARK Invest's decision to increase its stake in BitMine Immersion Technologies reflects a growing institutional interest in Ethereum as a balance-sheet asset. The firm's Ethereum holdings now stand at over 300,000 ETH, positioning it as one of the largest corporate holders of the cryptocurrency. [3]

In addition to the BMNR purchase, ARK Invest sold 218,986 shares of Coinbase Global Inc. (COIN) across its ETFs, a sale valued at approximately $90.6 million. The firm also reduced its positions in Robinhood Markets Inc. (HOOD) and Block Inc. (SQ), selling 109,824 shares and 90,061 shares, respectively. These sales were valued at $11.46 million and $7 million, respectively. [4]

ARK Invest's strategic adjustments are aligned with its strategy of taking profits on outperforming assets and reallocating capital toward emerging opportunities. The firm's recent moves underscore the evolving market conditions and the increasing interest in Ethereum as a long-term investment. [5]

References:
[1] https://finance.yahoo.com/news/cathie-wood-joins-crypto-heavyweights-172941956.html
[2] https://www.coindesk.com/markets/2025/07/22/cathie-woods-ark-loads-up-on-ether-treasury-bet-bitmine-immersion
[3] https://cryptobriefing.com/ark-invest-ethereum-bmnr-shares/
[4] https://www.ainvest.com/news/ethereum-news-today-ark-invest-shifts-strategy-buys-4-4-million-bitmine-shares-2507/
[5] https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/07/46535966/peter-thiel-effect-cathie-wood-pours-175-million-into-bitmine-immersion-stock-as-founders-fund-backing-ethereum-spike-fuels-buzz