Ethereum News Today: ARKK's Crypto Bet: A New Era of Institutional Ethereum Power Plays

Cathie Wood’s ARK Invest has continued to expand its exposure to the cryptocurrency market, with recent purchases of shares in BitMine Immersion Technologies and Bullish. According to trade disclosures, ARK’s Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF) collectively bought over 387,000 shares of BitMine and 144,000 shares of Bullish, representing approximately $16 million in BitMine and $7.5 million in Bullish. ARKK led the purchases for both firms, acquiring 257,108 shares of BitMine and 81,811 shares of Bullish. This marks a continuation of ARK’s broader strategy to increase its holdings in crypto-related equities, following a similar move in August when it invested $172 million in Bullish stock across its three ETFs [3].

BitMine, already the largest corporate holder of Ether (ETH), recently added to its ETH treasury by purchasing $65 million worth of the cryptocurrency in a single day, marking its first major acquisition of the month. The company executed six over-the-counter transactions through Galaxy Digital to complete the purchase, bringing its total ETH holdings to over 1.87 million tokens, or 1.55% of the circulating supply. This acquisition aligns with a broader trend of institutional Ethereum accumulation, with centralized exchange reserves hitting a three-year low as of 2025, down 38% since 2022 due to increased corporate treasury purchases and the rise of Ethereum ETFs [1].

The renewed accumulation by BitMine reflects growing institutional confidence in Ethereum’s long-term value. Tom Lee, a well-known crypto analyst, reiterated his $60,000 price target for Ethereum during a recent appearance on the Medici Presents: Level Up podcast, drawing parallels to the 1971 economic turning point in the U.S. when Wall Street experienced a significant shift. Lee argued that Ethereum’s ability to generate yield through staking—currently at a 3% rate—adds significant value to companies holding ETH in their treasuries. He calculated that a company with Ethereum in its treasury could see its value multiplied by 1.9 due to the income stream, compared to the current 1.13 multiple for BitMine’s management net asset value (mNav) [1].

BitMine’s aggressive Ethereum strategy mirrors that of MicroStrategy’s Michael Saylor, with the firm continuing to add to its ETH holdings in a supply squeeze scenario. In a separate transaction, BitMine recently added 80,325 ETH valued at $358 million, sourced from Galaxy Digital and FalconX. This brings its total Ethereum holdings to 1,947,299 ETH, valued at $8.69 billion, more than double the holdings of the second-largest ETH holder, SharpLink. The accumulation of such a large position underscores the growing strategic importance of Ethereum as an institutional asset class. Additionally, the Ether Machine, another major Ethereum holder, recently added 150,000 ETH to its treasury, further reinforcing the trend of institutional Ethereum accumulation [2].

Despite recent price volatility, Ethereum has seen strong momentum over the past year, with its price climbing to $4,385—a 20.1% increase in the last month and an 84% rise since last year. According to CoinMarketCap data, institutional interest in Ethereum has been further supported by ETF activity, with Ethereum ETFs managing $37.9 billion in assets under management as of the latest CoinShares report. This growing institutional backing contrasts with the recent downturn in broader crypto markets, which saw Ether lead a sharp decline following mixed reactions to U.S. employment data. While Bitcoin fared slightly better, the overall market correction highlighted the continued sensitivity of crypto assets to macroeconomic developments [4].

Source:

[1] BitMine Buys $65M Ether—1971 Moment for Ethereum (https://cointelegraph.com/news/bitmine-buys-65m-ether-1971-moment-for-ethereum)

[2] Bitmine Stacks Fresh $358M Worth ETH From Galaxy, FalconX (https://finance.yahoo.com/news/bitmine-stacks-fresh-358m-worth-052700777.html)

[3] ARK Invest Buys BitMine and Bullish Stock Across Flagship ETFs (https://cointelegraph.com/news/ark-invest-crypto-bitmine-bullish-stock-buys)

[4] Ether Leads Crumbling Crypto Prices in Shocking Reversal From Early Rally (https://www.coindesk.com/markets/2025/09/05/ether-leads-crumbling-crypto-prices-in-shocking-reversal-from-early-rally)