Ark Invest Doubles Down: $47M Crypto Stock Buying Spree Signals Bullish Bet
Wall Street's crypto skeptics got a $47 million reality check last week.
Ark Invest—Cathie Wood's innovation-focused fund—went all-in on crypto equities, snapping up shares like a Bitcoin miner hoarding rigs before the halving. The move screams conviction while traditional finance still clutches its pearls over 'volatility.'
Behind the buys: A calculated gamble that regulators’ foot-dragging won’t stop the institutional floodgates from opening. Because nothing says 'I believe in disruption' like dropping eight figures on assets your competitors still call a scam.
One hedge fund manager’s risk is another’s arbitrage—especially when the SEC’s rulebook reads like a blockchain whitepaper written in 2015.
Corporate treasuries and ETFs accelerate ETH accumulation
According to a Standard Chartered Bank report released Tuesday, corporate treasury vehicles have accumulated 1.26 million ETH, about 1% of the supply, in the past two months, nearly rivaling the 2 million ETH amassed by Ethereum ETFs over the same span and representing the highest ETF buying streak on record for ETH.
“ETH treasury companies are just getting started; they will likely 10x from here,” said Geoffrey Kendrick, global head of digital assets research at Standard Chartered. He said they could hold 10% of ether.
Bitcoin treasuries cover about 4.4% of BTC, with Strategy alone holding almost 3%.
He observed that ETH treasury firms enjoy annual staking returns of approximately 3% and can leverage DeFi protocols, capabilities largely unavailable to U.S. ETFs.
Kendrick also highlighted how regulatory arbitrage drives investors in jurisdictions with restricted crypto options to tap public firms for ETH exposure. “As a result, these companies’ market cap tends to trade above the net asset value (NAV) of the assets held, at a so-called positive NAV multiple,” he wrote.
BitMine, SharpLink lead ETH treasury race
BitMine remains the largest ETH treasury but still needs about 6 million more ETH to hit its 5% goal. BTCS, GameSquare, and The Ether Machine also launched Ethereum strategies this year.
SharpLink Gaming (SBET), backed by ConsenSys and Joe Lubin, is now the second-largest ETH treasury with over 438,000 ETH after buying 77,210 ETH—more than the network creates in a month.
In a separate report, Cryptopolitan noted that Ark Invest selected Canadian blockchain infrastructure provider SOL Strategies Inc. to serve as the staking partner for its solana validators, prompting a migration of its Digital Asset Revolutions Fund’s validation services to SOL Strategies’ network.
The decision, disclosed in a press release by SOL Strategies (previously Cypherpunk Holdings), underscores the firm’s broader role in Solana infrastructure development and investment services.
“Being selected as ARK’s Solana staking provider represents significant validation of our institutional infrastructure and market position,” said Leah Wald, chief executive of SOL Strategies. “Cathie Wood and her team at ARK are widely respected for their crypto and tech investing. Their confidence in our validator capabilities reinforces our commitment to providing best-in-class staking solutions for institutional clients.”
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