Ark Invest Makes $12M Coinbase Exit—Doubles Down on ETH with Bitmine Treasury Bet
Another day, another crypto shuffle—this time with Ark Invest playing both sides of the table.
The Move:
Dumped $12M in Coinbase shares like hot potatoes, then pivoted hard into ETH via Bitmine. Because nothing says 'conviction' like swapping one volatile asset for another.
Between the Lines:
While retail traders hyperventilate over exchange stocks, Cathie Wood's crew is stacking Ethereum like it's 2021. Classic hedge fund maneuver—rotate out of the regulated middleman, into the unregulated backbone.
The Cynic's Take:
Maybe they read the SEC tea leaves. Or maybe they just enjoy watching CNBC anchors scramble to explain treasury-grade crypto allocations. Either way, it's a $12M reminder that in crypto, even the 'smart money' plays musical chairs.
