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ARK Invest, led by Cathie Wood, has rebalanced three of its ETFs, selling shares in Coinbase and Roblox to acquire stakes in Ethereum treasury firm Bitmine. The move reflects a strategic pivot toward crypto-focused investments under the guidance of Fundstrat’s Tom Lee.
- ARK Invest sold $90.5M in Coinbase and $57.7M in Roblox shares across three ETFs.
- The firm acquired $174M in Bitmine (BMNR), an Ethereum treasury company chaired by Tom Lee.
- Bitmine now makes up 1.5% of ARK Innovation, Next Gen Internet, and Fintech Innovation ETFs.
📎 Related coverage from: cointelegraph.com