ARK Invest purchased 572,853 BitMine shares worth $20 million across three of its ETFs on Monday, according to daily trading disclosures.

The ARK Innovation ETF (ARKK) acquired 401,318 BitMine shares, while the ARK Next Generation Internet ETF (ARKW) bought 128,048 shares. The ARK Fintech Innovation ETF (ARKF) added 43,487 shares.

This investment followed BitMine’s announcement that its Ether (ETH) holdings reached $2 billion in just 16 days.

BitMine now holds 566,800 ETH, making it the largest Ether treasury company. The second-largest is SharpLink Gaming, which holds 360,800 ETH.

Despite these purchases, BitMine stock fell nearly 27% during the day before closing down 11.78%, according to Google Finance.

This decline followed ARK Invest’s $182 million BitMine purchase last week, highlighting continued volatility in the company’s share price.

ARK Invest Sells Coinbase, Block, Robinhood Shares

ARK Invest also reduced its exposure to several crypto-related companies. It sold 186,417 Block shares worth $15 million across ARKK, ARKW, and ARKF.

The firm offloaded 119,090 Robinhood shares valued at $12.7 million through ARKW and ARKF. Additionally, ARKW sold 18,204 Coinbase shares worth nearly $7 million, based on Coinbase’s $379.49 closing price.

Market data showed Robinhood shares rose 1.83% to $106.77, while Block shares declined 3.11%, and Coinbase shares dropped 3.11%.

These transactions reflect ARK Invest’s reshuffling of its crypto-linked holdings during the trading session.

BitMine’s Ether Treasury Position

BitMine’s Ether reserves total 566,800 ETH, strengthening its position as the largest Ether treasury firm.

Its reserves surpassed $2 billion within 16 days, according to company data. SharpLink Gaming holds the second-largest corporate Ether reserve at 360,800 ETH.

BitMine’s Ether-focused approach coincided with ARK Invest’s decision to expand its stake in the company, despite recent stock price declines. ARK Invest’s $20 million BitMine purchase reinforced its focus on Ether-related exposure.

ARK Invest Partners with SOL Strategies for Solana Staking

ARK Invest partnered with SOL Strategies as the exclusive staking provider for its Digital Assets Revolutions Fund. The fund will transfer validator operations to SOL Strategies’ staking infrastructure.

SOL Strategies CEO Leah Wald confirmed that the firm manages 3.59 million SOL across five validators and supports over 5,700 wallets.

Custodian BitGo, which previously joined forces with SOL Strategies, will continue its role in the partnership.

The partnership aligns with ARK Invest’s crypto strategy, combining Solana staking through SOL Strategies with increased BitMine exposure and reduced holdings in Coinbase, Block, and Robinhood.

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