- ARK Invest dumps $148M in fintech stocks to fund $174M Ethereum treasury pivot
- Cathie Wood’s funds load 4.4M Bitmine shares as Ethereum replaces Bitcoin focus
- Coinbase sale leads ARK divestments, but Tesla remains top ETF holding by weight
Cathie Wood’s ARK Invest has redirected significant capital away from traditional fintech holdings into Ethereum-focused assets. The firm acquired a substantial stake in Bitmine Immersion Technologies, a company positioning itself as a major Ethereum treasury.
This strategic move signals a growing conviction in Ethereum’s long-term value, as ARK offloaded over $148 million worth of Coinbase and Roblox shares to fund the shift.
ARK’s combined investment of $174 million across three ETFs now gives Bitmine a 1.5% weight in their portfolios, reflecting a notable allocation pivot. The move comes as Wood continues to express growing enthusiasm for Ethereum, bolstering the firm’s position in blockchain innovation.
🔥CATHIE WOOD DUMPS MAJOR STOCKS TO BUY ETH
— Coin Bureau (@coinbureau) July 22, 2025
ARK ETFs just sold over $148M in $COIN and $RBLX shares to buy 4.4 million shares of Tom Lee’s Ethereum treasury firm.💸
This marks its first Bitmine buy since the #Ethereum strategy shift. pic.twitter.com/9hdKFIUzr2
ARK Loads Up on Bitmine, Eyes Ethereum-Led Future
ARK Invest executed its Bitmine buy across its flagship Innovation ETF (ARKK), the Next Generation Internet ETF (ARKW), and the Fintech Innovation ETF (ARKF). Together, the funds scooped up 4.4 million Bitmine shares.
Bitmine is led by Fundstrat co-founder Tom Lee and is now part of a growing trend of companies adopting Ethereum-centric treasury strategies. Although it hasn’t exited Bitcoin mining entirely, Bitmine is using its $250 million war chest to lean heavily into ETH.
The move parallels a broader trend seen in firms like Bit Digital, which recently announced plans to shift its entire treasury from Bitcoin to Ethereum. However, Bitmine remains more balanced, positioning itself as a potential Ethereum-focused counterpart to MicroStrategy. The strategic investment from ARK strengthens Bitmine’s case to become a key player in this emerging space.
Coinbase, Robinhood Among Key Divestments
To finance the Bitmine entry, ARK liquidated significant positions in Coinbase, Robinhood, Block Inc., and Roblox. Coinbase was the largest single sale, with 218,986 shares offloaded, generating approximately $90.5 million in capital. ARK’s willingness to part with such a sizeable Coinbase holding highlights a broader tactical reallocation.
Significantly, ARK maintained its long-standing positions in Tesla. Both ARKK and ARKW held Tesla as their largest asset as of July 22, with weightings of 9.78% and 7.61% respectively.
Meanwhile, ARKF remains focused on fintech names, including Shopify, Circle, and Robinhood. Interestingly, all three ARK ETFs previously bought Circle stock on its debut, flipping portions within two weeks for over 400% gains.
