On July 21, ARK Invest CEO Cathie Wood continued to draw attention by adjusting the investment portfolio of three ETFs managed by the company. The most notable move was ARK selling a large number of shares in famous tech companies while shifting capital heavily into a company focused on accumulating Ethereum.
Specifically, ARK Invest sold 218,986 Coinbase shares worth approximately $90.5 million, along with 463,293 Roblox shares ($57.7 million) and 109,824 Robinhood shares ($2.2 million). Meanwhile, the company spent up to $174 million to purchase 4.4 million shares of Bitmine – a company currently dubbed as the "Ethereum treasury", founded by veteran analyst Tom Lee.
Bitmine currently occupies about 1.5% of each ARK Invest fund's portfolio. This is also the first time ARK has purchased Bitmine shares since the company announced a strategic shift, moving from Bitcoin accumulation to prioritizing Ethereum holdings at the end of June 2025. This move demonstrates the increasingly clear consensus among large institutions regarding ETH's long-term prospects.
Not only ARK Invest, but Bitmine has also attracted the attention of other famous investors. Tech billionaire Peter Thiel – co-founder of PayPal and Palantir – has purchased 9.1% of Bitmine's shares, further solidifying the company's position and appeal as an "Ethereum vault" in the eyes of institutional investors.
