ARK Invest Buys $20M BitMine, Sells Coinbase, Block, HOOD

Cathie Wooden’s ARK Invest ramped up its publicity to BitMine Immersion Applied sciences on Monday, buying over $20 million price of shares throughout three of its actively managed ETFs.

Based on ARK’s day by day buying and selling disclosures, the ARK Innovation ETF (ARKK) acquired 401,318 shares of BitMine, whereas ARKW and ARKF picked up 128,048 and 43,487 shares, respectively. In complete, ARK Invest added 572,853 BitMine shares.

The shopping for spree got here on the heels of BitMine’s announcement that its Ether (ETH) holdings had exceeded $2 billion in simply 16 days. Strategic Ether Reserves shows BitMine as the most important Ether treasury agency with 566,800 ETH, adopted by SharpLink Gaming with 360,800 ETH.

The transfer additionally follows a $182 million BitMine buy final week. Nevertheless, regardless of ARK’s pivot into the ETH treasury firm, its inventory has been struggling. BitMine’s inventory plunged nearly 27% on Monday earlier than paring losses to shut down 11.78%.

Associated: Cathie Wood sells Coinbase, Roblox shares for Tom Lee’s ETH firm

ARK sells Block, Coinbase, Robinhood Shares

ARK additionally trimmed its positions in a number of different crypto-linked shares. The agency bought a complete of 186,417 shares of Block Inc. throughout ARKK, ARKW, and ARKz, price round $15 million.

Robinhood was additionally on the chopping block, with ARKW and ARKF offloading 119,090 shares valued at round $12.7 million. In the meantime, ARKW bought 18,204 shares of Coinbase, price practically $7 million based mostly on Monday’s closing worth of $379.49.

Whereas Robinhood shares rose 1.83% to shut at $106.77, Block dipped 3.11%, and Coinbase slid 3.11%.

Associated: Cathie Wood’s ARK sells $146M worth of Circle shares as price surges

ARK names SOL Methods as Solana staking companion

On Monday, ARK Invest partnered with Canada-based SOL Strategies to function the unique staking supplier for its Digital Property Revolutions Fund. The fund, which holds a curated basket of cryptocurrencies, will transition its validator operations to SOL Methods’ infrastructure.