ARK Invest Shifts from Coinbase to Ethereum-Focused Bitmine, Signaling Institutional Confidence

Cathie Wood's ARK Invest has executed a strategic portfolio shift, divesting significant holdings in Coinbase and Roblox to invest in Bitmine Immersion Technologies, an ethereum treasury company led by Fundstrat's Tom Lee. This move underscores growing institutional confidence in Ethereum's ecosystem. ARK's three flagship funds—ARK Innovation ETF, Next Generation Internet ETF, and Fintech Innovation ETF—collectively sold $90.5 million worth of Coinbase and Roblox shares to reallocate capital toward Bitmine, a company focused on Ethereum-based treasury solutions. The decision reflects ARK's bullish outlook on Ethereum's long-term value proposition, particularly in decentralized finance (DeFi) and institutional adoption. Bitmine's leadership under Tom Lee, a well-known crypto advocate, further solidifies its position as a key player in the Ethereum ecosystem. This pivot aligns with broader trends of institutional investors diversifying into Ethereum-centric opportunities, driven by its scalability upgrades and robust developer activity. As of July 2025, ARK's reallocation highlights Ethereum's increasing prominence as a cornerstone of crypto portfolios, potentially signaling further institutional inflows into ETH and related technologies.

ARK Invest Shifts Portfolio from Coinbase and Roblox to Ethereum-Focused Bitmine

Cathie Wood's ARK Invest has made a strategic pivot, divesting significant holdings in Coinbase and Roblox to back Bitmine Immersion Technologies, an Ethereum treasury company led by Fundstrat's Tom Lee. The move signals growing institutional confidence in Ethereum's ecosystem.

ARK's three flagship funds—ARK Innovation ETF, Next Generation Internet ETF, and Fintech Innovation ETF—collectively sold $90.5 million in Coinbase stock and $57.7 million in Roblox shares. The proceeds were redirected into a $174 million position in Bitmine, now comprising 1.5% of each ETF.

Ethereum continues to attract institutional demand as companies increasingly establish ETH treasuries. This reallocation marks ARK's first investment in Bitmine since its transition from a Bitcoin-focused entity to an Ethereum treasury play.

PNC Partners With Coinbase to Enable Bitcoin Trading for Wealth Clients

PNC Financial Services Group has forged a partnership with Coinbase, allowing its wealth management clients to trade Bitcoin and other digital assets directly through their PNC accounts. This integration removes the need for third-party platforms, offering a seamless experience within PNC's existing interface.

Emma Loftus, PNC’s head of treasury management, highlighted growing client demand for unified dashboards that consolidate traditional and digital investments. The MOVE aligns with broader industry trends, as evidenced by Charles Schwab CEO Rick Wurster’s recent remarks on investor preferences for integrated asset views.

Beyond retail access, PNC is exploring bitcoin and blockchain applications for corporate payments and treasury management. While large-scale adoption remains distant, the bank anticipates stablecoin initiatives led by industry consortia, particularly following recent federal regulatory developments.

Dan Tapiero Launches 50T Fund to Capitalize on $50 Trillion Digital Asset Boom

Digital asset investor Dan Tapiero has consolidated his private equity firms, 10T Holdings and 1RoundTable Partners, into a new entity named 50T. The rebrand signals his bullish outlook on the digital asset economy, which he predicts will reach a $50 trillion market cap within the next decade. Tapiero's initial projection of $10 trillion by 2030 has already been surpassed, with the market currently valued at $5 trillion.

The merger coincides with landmark developments in the blockchain space, including Circle's post-IPO surge and Coinbase's $2.9 billion acquisition of Deribit. Tapiero's portfolio includes high-profile investments in Circle, Deribit, and eToro, with more companies eyeing public listings as institutional adoption accelerates.

To harness this growth, 50T is launching a $500 million growth equity fund targeting late-stage digital asset companies. The 10-year closed-end fund is slated for its first close in Q4 2025, positioning 50T as a key player in the next phase of blockchain infrastructure development.

PNC Bank Partners with Coinbase to Offer Crypto Services

PNC Bank, a Pittsburgh-based financial services corporation, has announced a partnership with Coinbase to integrate its Crypto-as-a-Service platform. This move will allow PNC customers to buy, hold, and sell cryptocurrencies directly through the bank's trusted platform. The collaboration also includes PNC providing "best-in-class" banking services to Coinbase, signaling a growing institutional embrace of digital assets.

William S. Demchak, CEO of PNC Bank, emphasized the demand for secure and streamlined access to crypto. The deal positions PNC as one of the largest U.S. banks to enter the crypto space, reflecting a broader trend of traditional finance warming to digital assets. Gadi Chait of Xapo Bank noted, "Traditional finance is slowly waking up to crypto’s call and is vying for a piece of the pie."

The announcement follows similar moves by JPMorgan Chase and Citigroup, which are exploring stablecoin offerings. Bank of America is also gauging client demand before rolling out its own crypto services. While PNC has not disclosed a timeline for the launch, the partnership underscores the accelerating integration of crypto into mainstream financial portfolios.

Bitcoin Consolidates Below $120K as On-Chain Data Signals Cooling Demand

Bitcoin's price action remains subdued below its recent all-time high, trading at $119,343 with just a 2% weekly gain. The cryptocurrency appears to be consolidating after reaching $123,000 earlier this month, now sitting 3% below that peak.

On-chain indicators reveal weakening demand from key markets. The Coinbase Premium Index, which tracks US investor activity, shows muted buying interest despite July's price surge. Similar patterns emerge in South Korea, another historically strong market for crypto trading.

Analysts note increased profit-taking behavior and hesitation among traders at current price levels. The lack of aggressive buying from institutional and retail investors suggests potential exhaustion in the current rally.

SpaceX Moves $153 Million In Bitcoin After Years Of Silence

SpaceX has reignited speculation about its cryptocurrency strategy after transferring 1,308 bitcoin—worth approximately $153 million—to a new SegWit address. The transaction marks the first on-chain activity from the aerospace company since June 2022, when it sent 3,505 BTC to Coinbase.

Blockchain analysts at Arkham Intelligence tracked the movement from a wallet dormant since mid-2022. The single consolidated transfer, lacking fragmentation or intermediary routing, suggests an internal treasury reorganization rather than a market sale. SpaceX retains 6,977 BTC worth roughly $815 million at current prices.

The move follows Tesla's 2022 divestment of 75% of its bitcoin holdings, though Elon Musk's companies continue holding substantial crypto reserves. Market observers interpret these corporate balance sheets as a long-term bet on digital gold, despite periodic portfolio adjustments.