Cathie Wood's ARK Invest ETFs Boost Crypto Holdings with $54M Coinbase, BMNR Buys, Trim Roblox Stake

Cathie Wood's ARK Invest ETFs acquired over $54 million worth of shares in Coinbase (COIN) and Bitmine Immersion Technologies (BMNR) on August 1. Meanwhile, the fund trimmed its positions in online gaming platform Roblox (RBLX) and biotech firm Adaptive Biotechnologies (ADPT). The purchases reflect the fund's strong conviction in the crypto space, particularly in Ethereum, which now exceeds $2 billion.

Cathie Wood's ARK Invest ETFs made significant moves in the crypto market on August 1, acquiring over $54 million worth of shares in Coinbase (COIN) and BitMine Immersion Technologies (BMNR). Meanwhile, the fund trimmed its positions in online gaming platform Roblox (RBLX) and biotech firm Adaptive Biotechnologies (ADPT). These transactions reflect ARK Invest's strong conviction in the crypto space, particularly in Ethereum, which now exceeds $2 billion.

ARK Invest purchased nearly $30 million in Coinbase shares across three ETFs, led by the ARKK fund, which contributed approximately $22.6 million. The purchase came on Friday, August 1, as Coinbase stock fell 16.7% after reporting quarterly results that missed estimates. The fund also increased its holdings in BitMine Immersion Technologies, investing about $11.6 million in BMNR shares. These moves follow earlier activity this week when ARK Invest acquired $20 million of BitMine equity on Monday and added $15.3 million more on Tuesday, bringing its five-day total to roughly $52.4 million in BitMine stock.

BitMine remains the largest public Ethereum treasury, holding 625,000 ETH, with a goal to stake 5% of the total supply. Despite its expanding reserve, BitMine shares declined around 8.6% on Friday to close at $31.68, extending a slide to over 31% in the last month. According to a Standard Chartered Bank report, corporate treasury vehicles have accumulated 1.26 million ETH in the past two months, nearly rivaling the 2 million ETH amassed by Ethereum ETFs over the same span.

ARK Invest also selected Canadian blockchain infrastructure provider SOL Strategies Inc. to serve as the staking partner for its Solana validators, prompting a migration of its Digital Asset Revolutions Fund’s validation services to SOL Strategies’ network. This move underscores the firm’s broader role in Solana infrastructure development and investment services.

The fund's actions come amidst broader market volatility. US stocks fell sharply on Friday, marking a rough start to August as investors reacted to disappointing economic data and newly adjusted tariff policies under President Trump. The Dow slid 542 points, its steepest drop since mid-June, while the S&P 500 and Nasdaq posted their worst days in months.

References:
[1] https://www.cryptopolitan.com/30m-into-coinbase/
[2] https://cointelegraph.com/news/ark-invest-buys-coinbase-bitmine-stock-dips