ARK Invest adds $20M in BitMine, trims Coinbase, Block, Robinhood holdings
Main Idea
ARK Invest increased its investment in BitMine by $20 million while reducing holdings in Coinbase, Block, and Robinhood as part of a portfolio reshuffle.
Key Points
1. ARK Invest purchased over $20 million worth of BitMine shares across three of its ETFs, with ARKK, ARKW, and ARKF acquiring 401,318, 128,048, and 43,487 shares respectively.
2. BitMine is the largest Ether treasury firm with 566,800 ETH, followed by SharpLink Gaming with 360,800 ETH.
3. ARK Invest sold 186,417 shares of Block Inc., 119,090 shares of Robinhood, and 18,204 shares of Coinbase.
4. BitMine's stock dropped nearly 27% on Monday before closing down 11%, while Robinhood shares rose 1.83%, Block dipped 3.11%, and Coinbase shares fell 3%.
5. ARK Invest partnered with SOL Strategies for Solana staking, with SOL Strategies managing over 3.59 million Solana across five validators.
Description
Cathie Wood’s ARK Invest adds $20 million in BitMine shares while scaling back exposure to Coinbase, Block and Robinhood amid its crypto portfolio reshuffle.
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