ARK reshuffles its portfolio by backing Bitmine’s Ethereum focus, reducing Coinbase holdings amid US digital assets legislation shifts.
Key Takeaways
- ARK Invest acquired over 4.4 million shares of Ethereum treasury firm Bitmine Immersion Technologies.
- Bitmine Immersion plans to acquire and stake 5% of Ethereum’s supply, marking a major shift toward Ethereum-focused treasury.
Cathie Wood’s Ark Invest acquired more than 4.4 million shares of Bitmine Immersion Technologies (BMNR), an Ethereum treasury company led by Fundstrat founder and CIO Tom Lee, according to its July 21 trade disclosure.
The purchases were spread across multiple ETFs, with the firm’s flagship Ark Innovation ETF (ARKK) getting approximately 2.9 million shares. Additional allocat