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ARK Invest, led by Cathie Wood, has significantly increased its stake in BitMine Immersion Technologies while reducing exposure to Coinbase, Block, and Robinhood. The move highlights a strategic shift in its crypto-focused investment strategy. BitMine’s rapid growth in Ether holdings appears to be a key factor in ARK’s decision.
- ARK Invest acquired 572,853 BitMine shares across three ETFs, totaling over $20 million in investments.
- BitMine holds 566,800 ETH, making it the largest Ether treasury firm, with holdings exceeding $2 billion in 16 days.
- ARK reduced exposure to major crypto platforms like Coinbase and Robinhood, shifting focus to mining and infrastructure.
📎 Related coverage from: cointelegraph.com