ARK Invest Restructures Crypto Portfolio With $20M BitMine Buy
ARK Invest has increased its exposure to BitMine Immersion Technologies, investing over $20 million across three actively managed ETFs. This strategic allocation follows BitMine’s rise as the largest Ether-holding public firm, with 566,800 ETH valued at over $2 billion, accumulated in just 16 days.
The ARK Innovation ETF (ARKK) added 401,318 BitMine shares, while ARKW and ARKF acquired 128,048 and 43,487 shares, respectively — totaling 572,853 shares.
This move comes after BitMine’s massive $182 million acquisition last week and signals a notable shift toward firms with significant Ethereum treasury holdings. Despite the strong fundamentals, BitMine’s stock dropped 27% intraday on Monday before closing down 11.78%, reflecting market volatility.
Coinbase, Block, and Robinhood Positions Reduced
While doubling down on BitMine, ARK Invest scaled back its positions in several high-profile crypto-linked equities.
The firm sold 186,417 shares of Block Inc. valued at approximately $15 million, spread across ARKK, ARKW, and ARKz.
Additionally, 119,090 Robinhood shares worth $12.7 million were offloaded, with activity focused in ARKW and ARKF. Coinbase saw a lighter trim, as ARKW sold 18,204 shares worth nearly $7 million, based on Monday’s closing price of $379.49.
Coinbase and Block both declined 3.11%, while Robinhood closed up 1.83% at $106.77, highlighting mixed investor sentiment.
New Partnership With SOL Strategies for Solana Staking
As part of its expanding crypto infrastructure focus, ARK Invest has partnered with SOL Strategies to serve as the exclusive Solana staking provider for its Digital Assets Revolutions Fund. The fund will now rely on SOL Strategies’ validator infrastructure, enhancing its exposure to Solana’s DeFi ecosystem.
This strategic partnership signals ARK’s deeper integration with Solana-based yield strategies as it diversifies beyond Bitcoin and Ethereum.
ARK Invest’s crypto reshuffle demonstrates a growing preference for Ethereum-focused firms like BitMine, while gradually reducing reliance on traditional crypto platforms. With staking partnerships and strategic buys, ARK is clearly positioning for the next wave of institutional blockchain adoption.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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