Cathie Wood's $15M Crypto Bet: Ark Invest Sells Bitcoin King Block, Doubles Down on Ethereum Giant Bitmine Immersion

Cathie Wood's Ark Invest made significant trades in Bitmine Immersion Technologies and Block Inc., with a $15.3 million investment in Bitmine and a $1.5 million sale of Block shares. The trades reflect Ark's strategic positioning in the market amidst evolving financial landscapes. Other key trades include investments in Zillow Group, ATAI Life Sciences, and Veracyte, as well as sales of Joby Aviation shares.

Title: Ark Invest's Strategic Moves in Bitmine Immersion Technologies and Block Inc.

ARK Invest, led by Cathie Wood, executed significant trades on Tuesday, July 29, 2025, reflecting the firm's strategic positioning in the evolving financial landscape. Notably, Ark Invest made a substantial investment in Bitmine Immersion Technologies Inc. (BMNR) and sold shares of Block Inc. (XYZ).

Bitmine Immersion Technologies, a corporate accumulator of ether, saw Ark Invest purchase 477,498 shares valued at approximately $15.3 million [2]. This move comes after Bitmine's recent announcement regarding its Ethereum holdings, which have now surpassed $2 billion [2]. The investment aligns with Ark's bullish stance on the tech sector and innovative companies with significant growth potential.

In contrast, Ark Invest sold 18,843 shares of Block Inc. for approximately $1.5 million [2]. This sale, valued at the stock's closing price of $78.18, is part of Ark's strategic reallocation of capital. The reduction in Block holdings follows the company's recent inclusion in the S&P 500, which led to a spike in shares [2].

Other notable trades include investments in Zillow Group Inc. (Z), ATAI Life Sciences N.V. (ATAI), and Veracyte Inc. (VCYT), as well as the sale of Joby Aviation Inc. (JOBY) shares [3]. Ark Invest acquired 71,334 shares of Zillow Group worth nearly $5.84 million, 133,594 shares of ATAI Life Sciences valued at around $444,868, and 87,248 shares of Veracyte worth approximately $2.18 million [3]. Meanwhile, Ark reduced its exposure to Joby Aviation by selling 36,275 shares for $622,479 [3].

These trades highlight Ark's dynamic investment approach, constantly adjusting its portfolio to optimize for growth and innovation. Investors monitoring Ark’s moves may gain insight into the sectors and companies that Cathie Wood and her team are currently favoring.

References:
[1] https://finance.yahoo.com/news/ark-invest-buys-dip-ether-112043186.html
[2] https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/07/46710463/cathie-woods-15m-crypto-bet-sells-bitcoin-king-block-doubles-down-on-ethereum-giant-bitmine-immersion
[3] https://www.investing.com/news/company-news/cathie-woods-ark-buys-bmnr-and-vcyt-sells-joby-and-xyz-stock-93CH-4158776