Ethereum News Today: Ark Invest Invests $47M in Coinbase and BitMine Amid Market Slump

Ark Invest has made a significant $47 million investment in shares of Coinbase and BitMine Immersion Technologies on August 2, 2025, signaling continued institutional confidence in the cryptocurrency sector despite ongoing market volatility. The firm, led by CEO Cathie Wood, acquired $30 million in Coinbase shares and $17 million in BitMine stock through its flagship ETFs—ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF) [1][2].

The purchases occurred as both companies experienced sharp declines in share prices. Coinbase dropped 16.7% on the day of the investment, closing at $314.69, while BitMine fell 8.55% to $31.68. Ark Invest acquired 94,678 Coinbase shares and 540,712 BitMine shares during the session, reflecting a strategic entry point into the market [3]. This follows a prior $182 million purchase of BitMine shares by the firm earlier in the year [2].

The move marks a reversal from recent selling activity. On Monday, ARKW had sold nearly $7 million worth of Coinbase shares. However, the decision to re-enter the market underscores the firm’s belief that the current valuation of crypto-related firms represents an attractive opportunity. Coinbase shares have declined from a 52-week high of $444.64 to a low of $310.55, while BitMine shares have similarly dropped [3].

BitMine has also undergone strategic shifts, most notably transitioning to holding Ether as part of its corporate treasury. The firm now holds 625,000 ETH, making it one of the largest corporate holders of the cryptocurrency [3]. This move highlights BitMine’s evolving role in the crypto infrastructure, especially as it advances immersion cooling technologies for Bitcoin mining.

The broader financial market context remains challenging. U.S. stocks experienced a sharp decline, with the Dow Jones Industrial Average shedding 542 points and the S&P 500 and Nasdaq recording their worst performances in months. The downturn was attributed to weak employment data and a slowing labor market, with bank stocks particularly affected [3]. Despite these macroeconomic headwinds, Ark Invest’s investment in Coinbase and BitMine reinforces its long-term commitment to the crypto and fintech sectors.

This action aligns with the firm’s historical pattern of increasing stakes in crypto-related assets during periods of market corrections. The firm’s bullish stance on blockchain technology and digital assets is evident in its continued support for companies at the forefront of innovation in the sector. Analysts view the move as potentially positive for Bitcoin and Ethereum infrastructure, suggesting it could enhance market sentiment and liquidity [1].

Source:

[1] Cathie Wood's Ark Invest Buys $47M in Coinbase & ... (https://coincentral.com/cathie-woods-ark-invest-buys-47m-in-coinbase-bitmine-shares-amid-market-slump/)

[2] ARK Invest Buys $47M in Coinbase and BitMine Amid ... (https://www.ainvest.com/news/ethereum-news-today-ark-invest-buys-47m-coinbase-bitmine-market-dips-2508/)

[3] ARK Invest scoops up Coinbase, BitMine shares amid ... (https://cryptonews.net/news/finance/31365243/)