“Cathie Wood’s Bold Move: ARK Unloads Coinbase & Roblox to Scoop ETH Treasury Stock BMNR”

Cathie Wood’s ARK Invest switches focus from Coinbase and Roblox stocks to new Ethereum treasury heavyweight BitMine (BMNR) with an investment of $174M, marking a seismic shift in their portfolio.

Cathie Wood’s Pivot Strategy: Nasdaq Listed Coinbase to Ethereum Treasury BitMine

Introduction

Leading investment firm ARK Invest and its CEO, Cathie Wood, just completed a seismic portfolio shift—dumping hundreds of millions in Coinbase (COIN) and Roblox (RBLX) stock to buy BitMine Immersion Technologies (BMNR), a newly public Ethereum treasury firm.

What happened?

1. ARK Sells Stakes in Coinbase & Roblox

In its flagship ETFs ARKK, ARKW, and ARKF, ARK liquidated about 218,986 COIN shares (~$90.5M) and 463,293 RBLX shares (~$57.7M).

Moreover, in HOOD and Block Inc. (XYZ) positions were also reduced in order to shift towards new crypto infrastructure plays.

2. Heavy Bet on BitMine’s Ethereum Treasury Strategy

In turn, ARK made a staggering $174M investment in BitMine, purchasing over 4.4 million shares and now holding approximately 1.5% of each ETF’s portfolio.

BitMine’s pivot from Bitcoin to Ethereum aggressively is now holding over 625,000 ETH, making them one of the largest corporate holders of Ethereum.

Additionally, the company initiated a $1 billion stock buyback program to increase the crypto assets per share ratio and improve the company’s valuation metrics.

Why This Matters: Insights & Implications

Shift Towards Ethereum Infrastructure

Cathie Wood seems to be focusing more on Ethereum-based financial ecosystems. With the divestment of Coinbase and Roblox, ARK demonstrates conviction in the future adoption of Ethereum treasury models, DeFi, and investment infrastructure centered on Ethereum.  

Sell High, Buy Low Strategy  

This approach is in line with the profit-taking selling positioned executed at peak valuation: COIN, HOOD, RBLX, and repurchasing shares of an ETH-driven enterprise during market corrections or critical shifts.  

Backing by Prominent Leaders

BitMine is chaired by Tom Lee of Fundstrat, backed by billionaires like Peter Thiel, and joined by major names such as Pantera, Galaxy Digital, and Digital Currency Group—a clear signal of institutional confidence in its ETH treasury model.  

Summary Table

Action Asset Amount Purpose  

Sold Coinbase (COIN) ~$90.5M Realize gains  

Sold Roblox (RBLX) ~$57.7M Reallocate toward ETH infrastructure  

Divested Robinhood & Block Tens of millions Portfolio rebalancing  

Purchases BitMine (BMNR) ~$174M / 4.4M shares Back Ethereum treasury leadership  

Conclusion

Cathie Wood’s bold restructuring of ARK Invest’s crypto exposure underscores a strategic shift: moving from in-game currencies and exchange networks to ETH focused investment.

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