Ark Invest Pivots to Ethereum as BitMine Stock Soars 460%

Ark Invest, the investment firm led by Cathie Wood, has significantly increased its stake in BitMine Immersion Technologies, a prominent Ethereum treasury company, by acquiring $4.46 million in shares on September 8, 2025. The purchase, distributed across three of its exchange-traded funds (ETFs)—ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF)—reflects a strategic shift in the firm's portfolio. Specifically, Ark Invest acquired 67,700 shares for ARKK, 21,890 shares for ARKW, and 12,360 shares for ARKF.

This move coincided with a 4.16% rise in BitMine’s stock price, which closed at $43.79 on the day of the announcement. Over the past year, BitMine's stock has surged by 460%, underscoring growing institutional confidence in the firm's operations. BitMine is now one of the largest corporate holders of Ethereum, with a current stash of approximately 2 million ETH, valued at $8.9 billion. This represents 1.7% of Ethereum’s total supply and 42% of all corporate Ethereum holdings. The company's aggressive accumulation strategy, initiated in April 2025, aims to reach 5% of Ethereum’s total supply, further cementing its role in the evolving crypto ecosystem.

Tom Lee, BitMine’s chairman, has publicly endorsed Ethereum as a major long-term macro trade, emphasizing its potential for growth over the next decade. Lee also expressed optimism about the upcoming Federal Reserve interest rate cut, which he anticipates will bolster both equity and cryptocurrency markets. This view aligns with broader market expectations and highlights the increasing confluence between traditional financial instruments and crypto assets.

In parallel with its investment in BitMine, Ark Invest sold $5.13 million worth of Robinhood shares on the same day. This decision followed a 15.8% surge in Robinhood’s stock, triggered by its recent addition to the S&P 500 index. The sale of Robinhood shares represents a strategic rebalancing of Ark's portfolio amid shifting market dynamics, with a clear pivot toward Ethereum-focused firms. By reallocating capital to companies like BitMine, Ark Invest is reinforcing its commitment to the blockchain and crypto sectors, which are gaining traction among institutional investors.

The broader implications of Ark Invest’s move suggest a growing institutional appetite for Ethereum and related assets, particularly as more companies accumulate ETH as a corporate treasury strategy. With the increasing integration of blockchain into global finance and the expectation of lower interest rates, Ethereum’s role in the financial ecosystem is expected to expand, offering opportunities for firms and investors positioned in the space.