Cathie Wood’s ARK Invest has made a bold new bet on Ethereum-linked equities, investing $4.46 million in BitMine Immersion Technologies across three of its exchange-traded funds. BitMine, the largest corporate holder of Ethereum with up to 2 million tokens, has seen its stock rise in regular and after-hours trading, driven by the strength of its ETH reserves.
Earlier this year, BitMine made headlines after turning a $20 million stake in Eightco Holdings into $628 million within a single trading day, thanks to a 3,000% surge tied to Worldcoin news. Such dramatic gains have bolstered BitMine’s reputation in the crypto-treasury sector.
At the same time, ARK Invest reduced its stake in Robinhood, offloading 44,000 shares worth $5.1 million despite the brokerage’s recent surge after joining the S&P 500. The firm also sold 10,000 shares of Teradyne, though the Robinhood sale drew more attention. Wood’s strategy reflects a continued pivot toward crypto-tied firms over traditional fintech plays.
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