tl;dr
ARK Invest has increased its stake in BitMine with a $4.4 million investment, expanding its holdings in the company’s ETFs. BitMine’s Ethereum treasury now exceeds 2 million ETH, valued at $8.9 billion, representing 1.7% of the total Ethereum supply. The company holds 42% of all corporate Ether gl...
**ARK Invest Piles Into BitMine as Ethereum Treasury Reaches $8.9 Billion Milestone**
Cathie Wood’s ARK Invest is doubling down on its bet on Ethereum, with a fresh $4.4 million injection into BitMine, the crypto treasury firm led by Tom Lee. The move comes as BitMine hits a major milestone: its Ethereum holdings now surpass 2 million ETH, valued at $8.9 billion—a staggering 1.7% of the cryptocurrency’s total supply.
ARK’s latest purchase—101,950 shares of BitMine (BMNR)—was spread across three of its ETFs, including the Ark Innovation ETF, which now holds a 2.6% stake in the company. Combined, ARK’s funds own 6.7 million BitMine shares, worth $284 million, signaling growing confidence in the firm’s role as a key player in Ethereum’s treasury ecosystem.
The investment follows a meteoric rise in BitMine’s stock, which surged 4.1% on Monday to $44.10 in after-hours trading. Since January, the shares have climbed an eye-popping 460%, fueled by BitMine’s aggressive accumulation of Ethereum. The company now holds 42% of all corporate Ether collected globally, making it the largest Ethereum treasury firm in the world.
“We continue to believe Ethereum is one of the biggest macro trades over the next 10–15 years,” said Tom Lee, BitMine’s chairman, who has long championed Ethereum’s potential. With only 34% of its 5% supply target achieved, the firm shows no signs of slowing down.
Meanwhile, Ethereum’s price has remained rangebound this month, trading within a tight channel despite the bullish momentum in BitMine’s shares. But Lee’s optimism isn’t limited to crypto. He’s also betting on the Federal Reserve’s next move, predicting a rate cut that could boost both equities and crypto markets.
“Fed cutting interest rates will have dual positives: lowering mortgage rates and boosting business confidence,” Lee told CNBC, noting the potential uplift for small-cap stocks and digital assets. Futures markets back his view, with an 89.4% chance of a 25-basis-point cut and a 10.6% chance of a larger 50-basis-point move.
As ARK and BitMine continue their high-stakes gamble on Ethereum, the question looms: Can the crypto market’s largest treasury firm sustain its momentum—and will a Fed pivot finally break Ethereum out of its current trading rut?