Cathie Wood’s Ark Invest picks up BitMine shares and trims Coinbase

A trade filing shows the investment firm picked up $177 million of BitMine, boosting its stock price.

7/22/25 11:17AM

Cathie Wood’s Ark Investment Management LLC increased its exposure to ethereum by loading up on shares of BitMine Immersion Technologies, one of the leading corporate treasury firms of ethereum.

Ark Investment added more than 4.4 million BitMine shares, worth $177 million at current prices, across three of its ETFs: the ARK Innovation ETF, the ARK Fintech Innovation ETF, and the ARK Next Generation Internet ETF, a Monday trade filing shows.

The company also reduced its holdings of exchanges Coinbase and Robinhood Markets, selling $90 million of Coinbase and $11 million of Robinhood.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company.)

The moves come less than a week after shares of Coinbase and Robinhood recorded all-time highs following the US House of Representatives passing both the stablecoin-focused GENIUS Act (which President Trump signed into law on Friday) and the market-structure-centered CLARITY Act.

BitMine shares are up 4% on the news and have soared more than 475% year to date.

“We are delighted that Cathie Wood’s ARK Invest is taking a substantial stake in BitMine as she sees the exponential opportunity ahead,” Tom Lee, the chairman of BitMine’s board of directors, said in a press release.

BitMine currently has about 300,700 ethereum tokens, worth roughly $1.1 billion, making it the second-largest corporate ethereum treasury firm, trailing SharpLink Gaming, per StrategicETHReserve.xyz.

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Ripple launches treasury platform to manage cash and cryptocurrencies

Ripple, the firm closely tied to the fifth-largest cryptocurrency, XRP, introduced a new treasury platform for digital asset and traditional cash management for users like financial officers, treasurers, and accountants.

Ripple’s move comes more than three months after it acquired treasury software provider GTreasury for $1 billion, one of several steps to grow the firm’s position in corporate finance.

Combining Ripple’s blockchain rails and GTreasury’s software, the new platform’s goal is to simplify treasury operations. It eliminates settlement delays with payment times of three to five seconds and optimizes yield from working capital 24/7 through tokenized money market funds such as BlackRock’s BUIDL and overnight secure repo markets with RLUSD, according to a Tuesday blog post.

Ripple Treasury also aims to provide “real-time cash positions, automated forecasting, and seamless reporting across traditional cash, digital assets, RLUSD, and XRP holdings,” the blog post stated.

Last year, Ripple filed its national banking license application with the US Office of the Comptroller of the Currency, while the firm’s subsidiary Standard Custody & Trust Company applied for a Federal Reserve master account, which would allow Ripple to hold RLUSD reserves directly with the Fed.

XRP has seen $2.4 billion in trading volume in the last 24 hours, increasing 1.8% in the period. The token’s all-time high was set in July 2025 at $3.65. Meanwhile, spot XRP ETFs had nearly $9.2 million worth of inflows on Tuesday, bringing cumulative inflows to $1.4 billion.

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