Ark Invest Shifts Crypto Strategy with Major Ethereum Move via Coinbase

In a strategic pivot, Cathie Wood's Ark Invest has reallocated approximately $175 million into Ethereum-focused BitMine Immersion, divesting portions of its holdings in Coinbase, Robinhood, and Block. This move underscores growing institutional confidence in ethereum as it matures beyond speculative trading. Ark Invest acquired 4.4 million shares of BMNR across three ETFs at $39.57 per share, signaling a bold bet on ETH's long-term value as a treasury asset. The transaction, executed via Coinbase, highlights the exchange's continued role as a gateway for institutional crypto investments. As of July 2025, this repositioning reflects Ark's conviction in Ethereum's evolving utility and the broader adoption of digital assets in corporate treasuries.

Ark Invest Shifts Strategy with $175M Ethereum Treasury Play via BitMine Immersion

Cathie Wood's Ark Invest has pivoted its crypto strategy, divesting portions of its Coinbase, Robinhood, and Block holdings to deploy approximately $175 million into Ethereum-focused BitMine Immersion. The move signals growing institutional confidence in ETH treasury strategies as the asset matures beyond speculative trading.

Ark allocated 4.4 million BMNR shares across three ETFs at $39.57 per share, with its flagship ARKK fund absorbing the lion's share. BitMine now dominates ETH holdings with over 300,000 coins—outpacing even the Ethereum Foundation's reserves.

The reallocation comes amid surging demand for yield-generating crypto assets. Ethereum's staking mechanics and deflationary tokenomics appear to be drawing sophisticated investors seeking alternatives to traditional equity exposure.

SpaceX Moves $153 Million Worth of Bitcoin After 3 Years

SpaceX has transferred approximately $152.9 million in Bitcoin after a three-year dormancy, sparking speculation about its crypto strategy. The funds, totaling 1,308 BTC, were moved to a new wallet—bc1q8ka—suspected to be controlled by the company. Blockchain analytics platform Arkham Intelligence confirmed the transaction.

Contrary to initial fears of a sell-off, SpaceX retains 6,977 BTC in its Coinbase Prime custody wallet. The transfer appears to be a portfolio rebalancing MOVE rather than liquidation. Market observers note such institutional reshuffling often precedes strategic positioning rather than bearish exits.

Elon Musk's aerospace company last made significant bitcoin movements in 2021 when it reportedly liquidated portions of its holdings. The current activity suggests renewed institutional engagement with crypto assets, though SpaceX has not disclosed its intentions.