Cathie Wood’s Ark Invest Buys $175M in Ethereum Vault Company Bitmine Immersion Shares

On July 21, Ark Invest, led by Cathie Wood, significantly expanded its stake in Bitmine Immersion (BMNR) by acquiring over 4.4 million shares, representing an investment near $175 million. This strategic move underscores Ark Invest’s growing confidence in the Ethereum-focused crypto mining sector. Concurrently, the firm executed substantial divestments, offloading approximately 219,000 shares of Coinbase valued at around $90.58 million. Additionally, Ark Invest reduced its holdings in Robinhood and Block, selling shares worth roughly $11.46 million and $7 million respectively. These portfolio adjustments reflect a tactical reallocation towards assets with promising growth trajectories within the evolving cryptocurrency ecosystem.