Ark Invest Shifts Crypto Strategy: Pivots from Coinbase to Ethereum-Focused BitMine

In a strategic move highlighting institutional confidence in Ethereum-centric strategies, Cathie Wood's Ark Invest has rebalanced its portfolio by acquiring 4.4 million shares of BitMine Immersion—a Tom Lee-backed Ethereum treasury specialist—while trimming positions in Coinbase, Robinhood, and Block. The $175 million allocation was distributed across three ETFs, with ARKK absorbing 2.9 million shares. This pivot underscores a growing institutional preference for ETH-focused investments over traditional crypto exchange exposures.

Ark Invest Shifts Crypto Strategy: Pivots to Ethereum Treasury Firm BitMine, Trims Coinbase Exposure

Cathie Wood's Ark Invest executed a notable portfolio rebalance, acquiring 4.4 million shares of BitMine Immersion—a Tom Lee-backed ethereum treasury specialist—while reducing positions in Coinbase, Robinhood, and Block. The $175 million allocation signals institutional confidence in ETH-centric strategies.

The MOVE was distributed across three ETFs: ARKK absorbed 2.9 million shares, ARKW added 927,898, and ARKF took 555,704. This reallocation underscores a strategic tilt toward Ethereum's institutional infrastructure as BitMine emerges as a major ETH holder.

Coinbase shares faced coordinated selling across Ark's funds, reflecting evolving institutional preferences beyond exchange-traded exposure. The rotation highlights Ethereum's growing appeal as a treasury asset among sophisticated investors.

SpaceX Moves $153M in Bitcoin After 3-Year Dormancy as Musk Faces Scrutiny

Elon Musk's aerospace company SpaceX has transferred 1,308 BTC ($153 million) to a consolidated wallet, marking its first Bitcoin transaction since June 2022. Blockchain tracker Arkham Intelligence revealed the movement from 16 addresses to a single SegWit-compatible wallet.

The private space firm maintains 8,285 BTC ($990 million) on its balance sheet according to bitcointreasuries.net data. This activity coincides with heightened scrutiny of Musk's enterprises following his public disputes with political figures.

SpaceX initially disclosed bitcoin holdings in 2021, mirroring Musk's Tesla which currently holds $1.37 billion in cryptocurrency. The recent transfer follows SpaceX's 2022 transaction when it moved 3,500 BTC to Coinbase.

Dan Tapiero Projects $50T Crypto Economy, Launches $500M Fund Under 50T Brand

Veteran investor Dan Tapiero is consolidating his digital asset ventures under a new $50 trillion-inspired brand, signaling aggressive confidence in crypto's growth trajectory. The merger of 10T Holdings and 1RoundTable Partners into 50T Holdings coincides with a revised market projection—doubling earlier estimates to $50T within a decade.

"We're already witnessing hypergrowth," Tapiero noted, pointing to the sector's $5T current valuation. Recent milestones like Circle's explosive public debut and Coinbase's $2.9B Deribit acquisition underscore institutional momentum. 50T's portfolio includes marquee names like Circle, Deribit, and eToro—all advancing toward public markets.

The firm simultaneously unveiled a $500M closed-end growth fund targeting late-stage crypto infrastructure plays. With a decade-long horizon, the vehicle reflects Tapiero's conviction that traditional finance will increasingly migrate on-chain.

PNC Bank Partners with Coinbase to Offer Crypto Trading Services

PNC Bank is set to launch cryptocurrency trading services for its wealth management clients through a strategic partnership with Coinbase. The collaboration will enable PNC customers to buy, sell, and hold digital assets like Bitcoin directly within their existing accounts, eliminating the need for third-party platforms.

The move underscores growing institutional demand for integrated crypto solutions. Emma Loftus, PNC’s head of treasury management, emphasized the bank’s focus on providing seamless access to digital assets while maintaining platform security. "This partnership allows us to explore where the market holds the most promise," she said.

Beyond trading, PNC plans to participate in an industry-led stablecoin network for payment settlements. In return, Coinbase will leverage PNC’s treasury and liquidity management services—a symbiotic relationship highlighting deepening ties between traditional finance and crypto infrastructure.

South Korea Warns Asset Managers to Limit Crypto ETF and Equity Exposure

South Korea's Financial Supervisory Service has issued informal guidance urging domestic asset managers to reduce holdings in crypto-related exchange-traded funds and U.S.-listed digital asset companies. The verbal directive specifically named Coinbase and MicroStrategy as restricted investments under existing policy.

The advisory appears contradictory to recent signals of regulatory easing, maintaining strict adherence to 2017 rules prohibiting financial institutions from digital asset equity exposure. Regulators emphasized compliance despite evolving crypto frameworks in both South Korea and the United States.

This development creates tension with growing institutional interest in crypto vehicles, particularly following the U.S. approval of spot Bitcoin ETFs. The FSS maintains its conservative stance while global counterparts increasingly integrate digital assets into regulated financial systems.