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ARK Invest Buys the Dip on Ether Strategy Firm BitMine With $18.6M Purchase
Cathie Wood's investment firm added a total of 529,366 BMNR shares to its Innovation and Next Generations Internet ETFs
Jul 29, 2025, 11:20 a.m.
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What to know:
- ARK Invest bought $18.6 million worth of shares in ether treasury firm BitMine Immersion Technologies on Monday.
- BitMine has positioned itself as one of the largest corporate accumulators of ether in recent months.
- ARK also sold just under $7 million of Coinbase shares and $15 million worth of shares Jack Dorsey's fintech company, Block.
ARK Invest bought $18.6 million worth of shares in ether treasury firm BitMine Immersion Technologies (BMNR).
Cathie Wood's investment firm added a total of 529,366 BMNR shares to its Innovation (ARKK) and Next Generations Internet (ARKW) exchange-traded funds (ETFs) on Monday, according to an email notification.
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BMNR fell more than 11.8% to $35.11 and is now down some 74% since spiking to $135 early this month.
BitMine has positioned itself as one of the largest corporate accumulators of ether in recent months, amassing more than 300,000 ETH worth over $1 billion.
Numerous companies have adopted a strategy of building an Ethereum treasury, copying the playbook of Michael Saylor's Strategy (MSTR) with bitcoin.
Among other factors, this has helped ignite a breakout in ETH's price, which has gained around 57% in July to almost $3,900, according to CoinDesk data.
ARK also sold just under $7 million of Coinbase (COIN) shares and $15 million worth of Jack Dorsey's fintech company Block (XYZ), based on Monday's closing prices.
Más para ti
Small investors are buying bitcoin. For a rally to succeed, the whales need to join in.
Small wallets have increased their BTC holdings by 2.5% since October's all-time high while large holders trimmed 0.8%, Santiment data shows.
Lo que debes saber:
- Bitcoin wallets holding less than 0.1 BTC have increased their share of supply to the highest since mid-2024 even as the price holds around the mid-$60,000s.
- Larger holders with 10 to 10,000 bitcoins — the whales and sharks that typically drive major moves — have reduced their positions since the October peak.
- The divergence supports choppy, fragile price action because retail demand alone cannot sustain rallies when big wallets are distributing into every recovery.
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