ARK Invest May Shift Focus to Ethereum With Bitmine Stakes Across Key ETFs

Key Points

1. ARK Invest sold approximately 218,986 shares of Coinbase and 463,293 shares of Roblox, valued at nearly $148 million, to invest in Ethereum treasury firm Bitmine.

2. The acquisition represents about 1.5% of each of ARK’s three major ETFs: ARKK, ARKW, and ARKF, highlighting its emphasis on Ethereum and blockchain technology.

3. Bitmine’s stock surged over 3,000% to a peak of $135 in early July before stabilizing around $39.57, reflecting investor interest in Ethereum’s utility.

4. ARK’s fintech ETF (ARKF) maintains indirect Ethereum exposure through a 1.15% allocation to the 3IQ Ether Staking ETF.

5. Institutional investors like ARK Invest and Peter Thiel, who acquired a 9.1% stake in Bitmine, are driving legitimacy and capital inflows into Ethereum treasury firms.