
Cathie Wood’s ARK Invest has sold Coinbase and Roblox shares to buy $174M worth of Tom Lee’s Ethereum firm Bitmine, reshaping its ETF portfolios.
Author: Akshat Thakur
July 22, 2025 — Cathie Wood’s ARK Invest has rebalanced its ETF portfolios, reducing exposure to Coinbase and Roblox while acquiring a 1.5% stake in Tom Lee’s Ethereum-focused firm, Bitmine Immersion Technologies, across three of its funds.
ARK Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF) ETFs have undergone significant changes. The firm sold:
These proceeds were reallocated into Bitmine Immersion Technologies, an Ethereum treasury firm chaired by Fundstrat’s Tom Lee. The newly acquired 4.4 million shares now represent 1.5% of each fund’s portfolio.
Bitmine has attracted significant institutional interest since its shift to Ethereum. Following the announcement, the company’s stock skyrocketed, hitting $135 before stabilizing near $39.57 — still up over 400% year-to-date.
Billionaire investor Peter Thiel also took notice, acquiring a 9.1% stake in the company last week.
Despite trimming Coinbase and Roblox, ARK Innovation ETF still holds 9.7% in Tesla and 5% in Circle. The ARKW fund continues to emphasize Robinhood, Tesla, and Coinbase, while the ARKF fund retains a fintech orientation with exposure to Shopify, PayPal, and eToro.
Bitmine joins the portfolio as ARK’s latest Ethereum-linked bet, reinforcing Wood’s continued focus on next-gen financial technologies.
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