Ethereum News Today: ARK Invest Buys $20M BitMine Shares Sells Coinbase Block Robinhood in Infrastructure Pivot

ARK Invest’s strategic reallocation of its cryptocurrency portfolio has drawn market attention, with the firm committing $20 million to BitMine Immersion Technologies while scaling back positions in Coinbase, Block, and Robinhood. The move, disclosed through ARK’s daily trading reports, highlights a shift toward crypto infrastructure providers over trading platforms, reflecting Cathie Wood’s broader vision for blockchain adoption. The ARK Innovation ETF (ARKK) led the investment, acquiring 401,318 shares of BitMine, while ARKW and ARKF added 128,048 and 43,487 shares respectively, totaling 572,853 shares across three funds [1][2]. This follows a $182 million BitMine purchase last week, despite the stock’s volatile performance, which plummeted nearly 27% on Monday before closing down 11.78% [1].

BitMine’s recent rise in prominence is underscored by its Ether (ETH) holdings surpassing $2 billion in 16 days, according to Strategic Ether Reserves data. The firm now holds 566,800 ETH, the largest treasury among crypto companies, eclipsing SharpLink Gaming’s 360,800 ETH [4]. ARK’s investment coincides with BitMine’s exploration of Ethereum-related infrastructure projects, positioning it as a beneficiary of blockchain’s evolving landscape. However, the stock’s sharp decline raises questions about market sentiment amid broader crypto volatility.

The firm’s exit from Coinbase, Block, and Robinhood reflects a broader divestment from retail-focused trading platforms. ARK sold 186,417 Block shares for $15 million across ARKK, ARKW, and ARKz, while Robinhood and Coinbase saw reductions of $12.7 million and $7 million respectively. Robinhood shares rose 1.83% to $106.77, but Block fell 3.11% and Coinbase slid 3.11% on the day [1][2]. These moves align with ARK’s historical pattern of pivoting capital to undervalued sectors before mainstream recognition, though analysts caution that crypto’s inherent volatility complicates such bets [7].

Wood’s strategy emphasizes infrastructure over fintech platforms, a shift evident in prior sales of Palantir and other fintech stocks. The firm’s focus on foundational blockchain elements mirrors its partnership with Canada-based SOL Strategies, which will manage staking operations for the Digital Assets Revolutions Fund. SOL Strategies, overseeing 3.59 million Solana (SOL) across five validators, joins BitGo in supporting the partnership [4]. This collaboration underscores ARK’s diversification into staking and validator services, further solidifying its crypto infrastructure footprint.

ARK’s adjustments highlight its role in shaping capital flows within the crypto ecosystem. By backing BitMine—a company with both Bitcoin mining and Ethereum infrastructure ambitions—the firm signals confidence in hybrid models that bridge legacy and emerging blockchain use cases. Conversely, reduced exposure to Coinbase and Robinhood aligns with regulatory and market pressures facing trading platforms, particularly after recent scrutiny of retail-driven models [3]. The firm’s actions also reflect a broader industry trend toward infrastructure, where scalability and long-term viability are prioritized over speculative retail activity.

Sources:

[1] Cointelegraph, [https://cointelegraph.com/news/ark-invest-bitmine-coinbase-block-robinhood-holdings](https://cointelegraph.com/news/ark-invest-bitmine-coinbase-block-robinhood-holdings)

[2] AInvest, [https://www.ainvest.com/news/ethereum-news-today-ark-invest-buys-20m-bitmine-shares-sells-15m-block-stake-crypto-infrastructure-bet-2507/](https://www.ainvest.com/news/ethereum-news-today-ark-invest-buys-20m-bitmine-shares-sells-15m-block-stake-crypto-infrastructure-bet-2507/)

[3] Benzinga, [https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/07/46678150/cathie-wood-goes-on-a-20m-bitmine-immersion-bargain-hunt-as-ark-trims-robinhood-and-palantir-stakes](https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/07/46678150/cathie-wood-goes-on-a-20m-bitmine-immersion-bargain-hunt-as-ark-trims-robinhood-and-palantir-stakes)

[4] AInvest, [https://www.ainvest.com/news/ethereum-news-today-ark-invest-reallocates-20m-bitmine-divests-15m-fintech-pivots-blockchain-infrastructure-2507/](https://www.ainvest.com/news/ethereum-news-today-ark-invest-reallocates-20m-bitmine-divests-15m-fintech-pivots-blockchain-infrastructure-2507/)

[7] advfn.com, [https://mx.advfn.com/bolsa-de-valores/COIN/BTCUSD/crypto-news/96510300/evolving-eth-futures-data-hints-a-potential-rally](https://mx.advfn.com/bolsa-de-valores/COIN/BTCUSD/crypto-news/96510300/evolving-eth-futures-data-hints-a-potential-rally)