Ark Invest Expands BitMine Position, Reduces Robinhood
- Ark Invest Purchases $4,5 Million in BitMine Shares
- Robinhood sells $5,1 million in shares
- BitMine leads corporate treasury with 1,78 million ETH
Ark Invest, led by Cathie Wood, has been moving its portfolio with significant purchases and sales in the cryptocurrency and fintech sectors. On Monday, the firm allocated approximately $4,46 million to acquire shares in BitMine Immersion Technologies, a company recognized for its Ethereum treasury strategy.
The manager's daily records show that three publicly traded funds participated in this transaction. The ARK Innovation ETF (ARKK) purchased 67.700 shares of BitMine, the ARK Next Generation Internet ETF (ARKW) acquired 21.890 shares, and the ARK Fintech Innovation ETF (ARKF) added 12.360 shares to its portfolio.
BitMine, listed under the ticker BMNR, saw its shares rise 4,16% on the same day, closing at $43,79. During subsequent trading, the shares gained an additional 0,71%. This performance reflects the company's growing relevance, as it is considered the largest corporate holder of Ethereum, with approximately 1,78 million ETH under management.
This position reinforces the trend of companies adding cryptocurrencies directly to their balance sheets, especially the second-largest in the market, which has been seen as a strategic asset in corporate treasuries. Ark Invest's move also highlights how traditional funds have sought exposure to companies linked to the crypto ecosystem.
At the same time, the manager made adjustments to other positions. The ARKW fund disposed of 43.728 shares of Robinhood Markets (HOOD), a transaction valued at approximately $5,13 million. Interestingly, this sale occurred on a day of strong appreciation for the brokerage, whose shares rose more than 15%.
The move reflects Ark Invest's balance between expanding its stake in companies aligned with cryptocurrency infrastructure, such as BitMine, and reducing its exposure to traditional brokerage firms, despite positive stock market results.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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