The investment firm scooped up more than half a million BitMine shares across three of its flagship ETFs, a move that follows BitMine’s explosive growth in ETH holdings — surpassing $2 billion in just over two weeks. With 566,800 ETH under management, BitMine now leads all corporate Ether reserves.
Despite this aggressive accumulation, BitMine’s stock endured a volatile session, initially plunging nearly 27% before recovering to close with an 11.78% loss. The dip, however, didn’t appear to deter ARK, which had already poured $182 million into the company days earlier.
As it deepened its commitment to BitMine, ARK simultaneously trimmed several positions elsewhere. Shares in Block, Coinbase, and Robinhood were sold off across various ETFs, signaling a rotation away from older crypto plays toward newer ETH-centric strategies.
ARK also expanded its footprint in staking infrastructure, naming SOL Strategies as its exclusive partner for validator operations within its Digital Assets Revolutions Fund. The move integrates over 3.5 million SOL across five validators, supported by BitGo, and underscores a growing institutional appetite for yield-generating crypto services.
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