Investment firm ARK Invest has strategically redirected its portfolio toward Ethereum-centric opportunities by divesting shares of Coinbase and Roblox to acquire a stake in Ethereum treasury firm Bitmine. The firm sold approximately 218,986 shares of Coinbase and 463,293 shares of Roblox, representing nearly $148 million in combined value. Proceeds were reallocated to Bitmine, emphasizing ARK’s increased focus on blockchain infrastructure tied to Ethereum’s growth.
The Bitmine acquisition comprises roughly 1.5% of each of ARK’s three major exchange-traded funds—ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). This allocation underscores the firm’s commitment to Ethereum’s technological utility and broad applications within decentralized finance and beyond.
Bitmine’s stock experienced a monumental surge of over 3,000%, reaching a peak of $135 in early July before stabilizing around $39.57. This volatility reflects heightened institutional interest in Ethereum’s ecosystem and treasury management solutions.
ARK maintains additional Ethereum exposure through its fintech-focused ARKF ETF, which holds a 1.15% position in the 3IQ Ether Staking ETF. This complements direct investments into blockchain-native companies like Bitmine.
The move aligns with a trend of prominent institutional capital entering the Ethereum space. Investor Peter Thiel recently acquired a 9.1% stake in Bitmine, further validating Ethereum treasury firms as vehicles for legitimacy and sustained capital inflows.