Ark Invest Dumps Coinbase & Robinhood—Goes All-In With $175M Ethereum Bet on BitMine Immersion

Ark Invest just made a power move—liquidating its stakes in crypto giants Coinbase and Robinhood to double down on Ethereum. The $175 million pivot? A strategic partnership with BitMine Immersion, betting big on ETH’s infrastructure future.

Why the shakeup? Ark’s playing the long game. While retail traders chase memecoins, Cathie Wood’s firm is stacking chips on Ethereum’s institutional adoption runway. BitMine’s immersion cooling tech—critical for scaling mining ops—just got a rocket-fuel injection.

The irony? Ditching two ‘democratized finance’ darlings to back a mining play Wall Street actually cares about. Sometimes, even disruptors hedge their bets.

Ark trims positions in Coinbase, Robinhood, and Block

In tandem with its BitMine acquisition, Ark Invest has reduced exposure to three prominent crypto-linked stocks.

The firm sold 218,986 shares of Coinbase for roughly $90.6 million, 109,824 shares of Robinhood for $11.46 million, and 90,061 shares of Block for about $7 million. These sales spanned across ARKK, ARKW, and ARKF.

The portfolio adjustment aligns with Ark’s strategy of taking profits on outperforming assets and reallocating capital toward emerging opportunities.

Coinbase’s stock has rallied in recent weeks, briefly surpassing a $100 billion market cap. This rally was fueled by excitement about improved regulatory progress after the US Congress passed key crypto bills like the CLARITY Act and the GENIUS Act.

Meanwhile, Robinhood shares also surged, gaining over 16% during the past week thanks to Optimism around its tokenized equities and new crypto offerings in Europe.

Additionally, Jack Dorsey’s Block gained investor attention after being added to the S&P 500 index, making it the second crypto-centered company after Coinbase to achieve the distinction.