ARK Invest Pumps $175M into Bitmine Amid ETH Rally
ARK Invest has allocated $175 million to buy 4.4 million shares of Bitmine Immersion Technologies (BMNR) across its ARKK, ARKW and ARKF ETFs. Bitmine, an Ethereum treasury miner holding over $1 billion in ETH, plans to stake 5% of the total Ethereum supply.
This purchase comes amid a 25% weekly Ethereum rally that drove ETH above $3,800. To fund the move, ARK trimmed positions in Coinbase (COIN), selling about 219,000 shares, and reduced stakes in Robinhood (HOOD), Block (SQ) and Roblox (RBLX). Ethereum briefly corrected 4% to trade near $3,660, while Bitcoin remained relatively stable. The broader crypto market cap stands at $3.89 trillion with $218 billion in 24-hour volume.
ARK’s strategic pivot underscores growing institutional interest in Ethereum staking and mining infrastructure. Traders should note the shift of capital from exchange and fintech plays into crypto-native, asset-backed ventures.
Bullish
ARK Invest’s $175M allocation to Bitmine amid a strong Ethereum rally signals growing institutional demand for ETH staking and mining infrastructure. In the short term, this move can boost market sentiment and support ETH prices by showcasing large-scale confidence in Ethereum’s network and staking potential. Over the long term, increasing institutional exposure via ETFs may enhance Ethereum’s market depth and liquidity, reinforcing a bullish outlook. Additionally, the rotation of capital from exchange and fintech stocks into crypto-native infrastructure underscores a preference for asset-backed staking models, further strengthening Ethereum’s growth prospects.