Cathie Wood’s Ark Invest made bold portfolio moves this week, cashing in on surging Coinbase stock while significantly increasing exposure to Ethereum through a new stake in Bitmine Immersion Technologies.
On Monday, Ark Invest offloaded a total of 218,986 shares of Coinbase (COIN) across three of its exchange-traded funds, worth approximately $90.58 million. The majority of the sale came from the flagship Ark Innovation ETF (ARKK), which sold 174,746 shares. The Ark Next Generation Internet ETF (ARKW) and Ark Fintech Innovation ETF (ARKF) sold 27,663 and 16,577 shares, respectively.
The timing follows Coinbase reaching an all-time high above $437 last Friday, spurred by the U.S. House of Representatives passing a major crypto bill aimed at regulating stablecoins and laying the groundwork for broader digital asset oversight. The Coinbase app also cracked the top 100 on the Apple App Store for the first time since January, reflecting renewed retail interest.
Elizabeth Crisp
Despite the rally, COIN stock slipped slightly Monday, closing down 1.47% at $413.63.
Ark Goes Big on Ethereum Exposure via Bitmine
While trimming its Coinbase stake, Ark pivoted into another crypto-heavy play: Bitmine Immersion Technologies (BMNR). The firm acquired 4.42 million shares of the treasury-rich company—valued at $175 million—across its ETFs. Bitmine reportedly holds over 300,000 ETH, making it a strategic move for Ark to gain deeper exposure to Ethereum without directly holding the asset.
BitMine Immersion Technologies, Inc.
The shift reflects Ark’s active management style and ongoing thesis around blockchain-based technologies. The firm maintains a self-imposed cap of 10% per stock within each fund, regularly rebalancing as values rise or fall.
Further Adjustments: Robinhood and Block
In addition to its Coinbase sale and Bitmine acquisition, Ark continued to fine-tune its tech-focused holdings. ARKW sold 109,824 shares of Robinhood, valued at $11.46 million. Robinhood shares fell 4.92% Monday, closing at $104.34.
ARKF also exited 90,061 shares of Block Inc., worth about $7 million. In contrast to Robinhood, Block saw a boost, ending the day up 7.22% at $78.08.
Ark Invest’s latest moves underline its dynamic approach to crypto and fintech investments—trimming high-flying assets like Coinbase while doubling down on Ethereum exposure via Bitmine. As digital assets gain renewed momentum and regulatory clarity improves, Ark’s rebalancing strategy shows how traditional fund managers are navigating the fast-moving crypto landscape with calculated conviction.
