Cathie Wood’s ARK Invest Pours Millions Into BitMine and Bullish, Trims Robinhood Stake
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Cathie Wood’s Ark Invest made bold moves this week, boosting exposure to both BitMine Immersion Technologies and Bullish. BitMine (BMNR): ARK purchased $4.46M in shares across ARKK, ARKW, and ARKF. The stock rose 4.16% to $43.79 Monday, with another 0.71% after-hours gain. BitMine, the largest corporate Ethereum holder with 1.78M ETH, recently added $65M via Galaxy Digital, now controlling over 1.5% of ETH supply. The firm funds purchases entirely with cash, positioning itself as a major Ethereum bull amid shrinking exchange reserves. Bullish (BULL): ARK directed $23M across ARKK, ARKW, and ARKF into Bullish this week, continuing heavy allocations after its $1.1B IPO in August, where ARK invested $172M on day one. Bullish shares are up another 6% this week, with the firm owning CoinDesk and operating under licenses in Hong Kong, Singapore, and Gibraltar. Its traditional IPO route underscores its push for mainstream credibility. Robinhood (HOOD): ARKW sold 43,728 shares worth $5.13M. Robinhood stock surged 15.8% to $117.28 after news it will join the S&P 500. ARK is doubling down on crypto-linked equities, betting on BitMine’s ETH accumulation strategy and Bullish’s post-IPO momentum while trimming Robinhood exposure despite its index inclusion.