ARK Invest Pumps $2M into BitMine ETF amid 415% Ether Rally
ARK Invest boosted its exposure to BitMine by acquiring 48,454 shares worth about $2 million via its ARKK, ARKF and ARKW ETFs. BitMine ETF has delivered a 415% year-to-date rally, climbing a further 7.65% to $40.23 after the disclosure.
The mining firm holds nearly 3.4 million ETH on its balance sheet, including more than 565,000 acquired in the past month. Despite the strong rally, BitMine’s Ether holdings face roughly $2.1 billion in unrealized losses amid recent market pullbacks.
At the same time, ARK Invest trimmed about $30 million in Tesla shares following shareholder approval of Elon Musk’s $1 trillion compensation plan. Traders should monitor BitMine ETF’s volatile Ether treasury and ARK’s strategic rebalancing for signs of institutional appetite in crypto ETFs.
Bullish
In the near term, ARK Invest’s $2 million allocation to BitMine ETF amid a 415% rally signals strong institutional demand for Ether exposure via ETFs, likely boosting market sentiment and attracting further capital inflows that support ETH prices. Over the long term, BitMine’s substantial 3.4 million ETH treasury and roughly $2.1 billion in unrealized losses may heighten volatility, but ongoing strategic rebalancing by ARK and other funds underscores deepening crypto ETF adoption, underpinning Ethereum’s market structure and potential price resilience.