ARK Invest adds $20M in BitMine, trims Coinbase, Block, Robinhood holdings

Cathie Wood’s ARK Invest ramped up its vulnerability to BitMine Immersion Technologies connected Monday, purchasing implicit $20 cardinal worthy of shares crossed 3 of its actively managed ETFs.

According to ARK’s regular trading disclosures, the ARK Innovation ETF (ARKK) acquired 401,318 shares of BitMine, portion ARKW and ARKF picked up 128,048 and 43,487 shares, respectively. In total, ARK Invest added 572,853 BitMine shares.

The buying spree comes connected the heels of BitMine’s announcement that its Ether (ETH) holdings had exceeded $2 cardinal successful conscionable 16 days. Strategic Ether Reserves shows BitMine arsenic the largest Ether treasury steadfast with 566,800 ETH, followed by SharpLink Gaming with 360,800 ETH.

The determination besides follows a $182 cardinal BitMine buy past week. However, contempt ARK’s pivot into the ETH treasury company, its banal has been struggling. BitMine’s banal plunged astir 27% connected Monday earlier paring losses to adjacent down 11.78%.

BitMine closes the time down by 11%. Source: Google Finance

Related: Cathie Wood sells Coinbase, Roblox shares for Tom Lee’s ETH firm

ARK sells Block, Coinbase, Robinhood Shares

ARK besides trimmed its positions successful respective different crypto-linked stocks. The steadfast sold a full of 186,417 shares of Block Inc. crossed ARKK, ARKW, and ARKz, worthy astir $15 million.

Robinhood was besides connected the chopping block, with ARKW and ARKF offloading 119,090 shares valued astatine astir $12.7 million. Meanwhile, ARKW sold 18,204 shares of Coinbase, worthy astir $7 cardinal based connected Monday’s closing terms of $379.49.

While Robinhood shares roseate 1.83% to adjacent astatine $106.77, Block dipped 3.11%, and Coinbase slid 3.11%.

Coinbase shares driblet 3%. Source: Google Finance

Related: Cathie Wood’s ARK sells $146M worthy of Circle shares arsenic terms surges

ARK names SOL Strategies arsenic Solana staking partner

On Monday, ARK Invest partnered with Canada-based SOL Strategies to service arsenic the exclusive staking supplier for its Digital Assets Revolutions Fund. The fund, which holds a curated handbasket of cryptocurrencies, volition modulation its validator operations to SOL Strategies’ infrastructure.

SOL Strategies CEO Leah Wald said the steadfast manages implicit 3.59 cardinal Solana (SOL) crossed 5 validators, with much than 5,700 wallets participating. BitGo, which joined forces with SOL Strategies earlier this year, volition besides enactment the partnership.

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