ARK Invest Buys $20M BitMine Shares, Sells Coinbase and Robinhood Stakes

ARK’s daily trading disclosures show the ARK Innovation ETF (ARKK) acquired 401,318 shares of BitMine, while the ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF) purchased 128,048 and 43,487 shares, respectively. ARK Invest added 572,853 BitMine shares in total. The purchases occurred as BitMine traded between $35 and $38 per share during Monday’s session. 

ARK simultaneously trimmed crypto-adjacent equity positions, selling approximately $7 million of Coinbase (COIN) shares, $15 million of Block (SQ) stock and reducing its Robinhood Markets (HOOD) holding by $13 million.

On July 22, Cathie Wood’s ARK Invest disclosed that it purchased 4.7 million shares of BitMine Immersion (BMNR). Within ARKK, the fund acquired 2,937,432 BMNR shares. ARKW added 927,898 shares, while ARKF purchased 555,704 shares of BitMine Immersion. The purchases occurred during a week when BitMine’s stock traded between $4.50 and $5.20 per share.

BitMine Immersion operates as an Ethereum treasury company that holds Ethereum and generates yield through lending activities. The firm has accumulated over 566,000 ETH tokens worth approximately $2 billion as of July 2025.

ARK first indicated interest in Ethereum treasury strategies in mid-2025, following reports that corporations were accumulating ETH as a treasury asset. The firm has positioned BitMine as a way to gain exposure to Ethereum’s potential price appreciation and staking rewards.

The sales of traditional crypto exchange stocks occurred during a period when Coinbase traded around $240 per share, Block near $65, and Robinhood at approximately $18. ARK’s crypto-focused equity holdings had declined in value during early July market volatility.

ARK Invest manages approximately $16 billion across its various ETFs, with ARKK representing its largest fund. The firm’s investment philosophy focuses on disruptive innovation themes, including artificial intelligence, robotics, and blockchain technology.

BitMine Immersion trades on the OTCQB market under ticker BMNR. The company reported minimal traditional revenue but holds significant cryptocurrency assets that fluctuate with Ethereum’s price movements.

The portfolio adjustments reflect ARK’s strategy of seeking direct exposure to blockchain applications rather than companies that facilitate cryptocurrency trading.