Ethereum News Today: Ark Invest Pivots to Ethereum Treasuries: Buys 4.4M BitMine Shares, Sells Coinbase, Robinhood, Block Stakes

Cathie Wood’s Ark Invest has restructured its cryptocurrency portfolio by acquiring over 4.4 million shares in Ethereum treasury firm BitMine Immersion while simultaneously reducing holdings in Coinbase, Robinhood, and Block. The strategic move, executed across three of Ark’s exchange-traded funds (ETFs), reflects a renewed emphasis on Ethereum-based treasury strategies and underscores the firm’s confidence in long-term blockchain adoption.

The shift began with Ark Invest purchasing 4,421,034 shares of BitMine Immersion, a company that holds a substantial Ethereum treasury and is backed by FundStrat’s Tom Lee. At the time of the transaction, each share was valued at $39.57, totaling approximately $175 million. The acquisition was distributed among Ark’s flagship ETFs: the Ark Innovation ETF (ARKK) accounted for nearly 2.94 million shares, the Ark Next Generation Internet ETF (ARKW) took 927,898 shares, and the Ark Fintech Innovation ETF (ARKF) added 555,704 shares.

BitMine Immersion has emerged as one of the largest institutional holders of Ethereum, with data from Strategic ETH Reserve indicating its treasury holds over 300,000 ETH. This positions the firm ahead of notable entities like SharpLink (280,000 ETH) and the Ethereum Foundation (234,000 ETH). The purchase aligns with Ark Invest’s broader thesis that Ethereum’s treasury mechanisms—such as staking rewards and token burn dynamics—offer a compelling case for institutional investment in the blockchain ecosystem.

Simultaneously, Ark Invest divested portions of its stakes in Coinbase, Robinhood, and Block. The firm sold 218,986 Coinbase shares for $90.6 million, 109,824 Robinhood shares for $11.46 million, and 90,061 Block shares for $7 million. These sales were spread across the same three ETFs, a strategy consistent with Ark Invest’s historical approach of reallocating capital from high-performing assets to emerging opportunities. The timing coincided with recent regulatory developments in the U.S., including the enactment of the CLARITY Act and GENIUS Act, which have bolstered crypto market confidence.

Analysts note that the transition signals a tactical pivot by Ark Invest, which has previously emphasized high-growth fintech and crypto stocks. By doubling down on Ethereum treasuries, the firm is betting on the asset’s potential to outperform amid broader market volatility. BitMine Immersion’s role as a custodian of Ethereum aligns with expectations of increased institutional demand for crypto-backed financial products, particularly as Ethereum’s market capitalization approaches record levels.

Market participants suggest the move also reflects a broader narrative shift in institutional crypto investing. Ethereum’s integration into Wall Street strategies, coupled with its upcoming potential for a record-breaking price surge, has attracted attention from major players. By aligning with Tom Lee’s team—a prominent voice in crypto market analysis—Ark Invest is positioning itself to capitalize on Ethereum’s growing influence within traditional finance.

The reorganization highlights Ark Invest’s agility in adapting to evolving market conditions. As Ethereum continues to solidify its role as a cornerstone of the blockchain economy, the firm’s strategic reallocation of capital toward treasury-focused entities like BitMine Immersion could signal a broader trend of institutional alignment with Ethereum’s long-term value proposition.