Ark Invest Sells $12M in Coinbase Shares Amid Shift Towards Ether and Bitmine
In July 2025, Ark Invest made headlines again. This time, it wasn’t for buying, it was for selling. The firm sold $12 million worth of Coinbase shares. That’s a big deal. Coinbase has long been one of Ark’s top crypto picks. So why the change?
It looks like Ark is shifting its focus. The firm is now showing more interest in Ethereum and a rising name in crypto mining, Bitmine. This move has caught the attention of investors everywhere.
We’ll break it all down. Why did Ark pull back from Coinbase? What’s so special about Ethereum and Bitmine? And what does this mean for the future of crypto investing? Let’s explore this new strategy together.
About Ark Invest
Ark Invest is an American asset-management firm led by Cathie Wood. It runs several actively managed ETFs focused on innovation. Launched in 2014, Ark grew quickly by backing tech pioneers like Tesla and Bitcoin. As of mid‑2025, it had over $20 billion in assets under management.
We know Ark is drawn to big ideas. They invest where they believe technology can reshape the world: fintech, biotech, robotics, and blockchain. Their public filings and past moves show they change direction when innovation trends shift.
Coinbase: A Core Crypto Holding
Coinbase Global (COIN) has been one of Ark’s key crypto-related bets. For years, Ark’s Innovation ETF (ARKK) and Next Generation Internet ETF (ARKW) held large Coinbase positions. The company’s stock was popular with investors because Coinbase is among the largest crypto exchanges in the U.S.
But in recent months, trading in Coinbase shares has cooled. Regulatory concerns and market cycles have created headwinds. Coinbase’s stock fell about 5% over a recent week, closing near $396.70 per share.
Details of the $12M Sale
On July 24, 2025, Ark sold roughly $12.1 million in Coinbase shares across ARKK and ARKW. It offloaded about 30,500 COIN shares in total, 27,614 from ARKK and 2,887 from ARKW.
This move is part of a broader shift. Ark also sold $9.8 million of Block Inc. shares (around 123,169 shares in ARKK) and $1.1 million in Robinhood (HOOD) shares. It also trimmed its Bitcoin ETF (ARKB) stake by approximately 28,900 shares.
The Strategic Shift: Moving Towards Ether
While cutting back on Coinbase, Ark is boosting exposure to Ethereum-linked assets. The firm invested heavily in Bitmine Immersion Technologies, which manages a corporate Ethereum treasury. Ark spent between $174 million and $182 million to acquire roughly 4.4 million -4.77 million Bitmine shares across ARKK, ARKW, and ARKF.
Bitmine is led by Fundstrat’s Tom Lee and backed by Peter Thiel. The company now holds over $1 billion in ETH and aims to stake up to 5% of Ethereum’s total supply.
This shift reflects a broader institutional trend: investors view ether as a strategic asset. It underpins stablecoins, DeFi apps, and staking, which are key components in the evolving crypto ecosystem.
Spotlight on Bitmine
Bitmine Immersion started as a Bitcoin mining company. Under new leadership, it pivoted to an Ethereum treasury model. The firm now raises capital and uses it to buy and stake ETH. It supports mining, advisory, and has infrastructure in low-cost energy zones like Texas and Trinidad.
Ark’s stake in Bitmine shows faith in companies with direct control over crypto networks. Bitmine’s large ETH holdings give it visibility into staking returns, fee income, and long-term growth tied to Ethereum’s roadmap.
Market Reaction and Analyst Opinions
The market largely took Ark’s sell-off in stride. Coinbase and Block showed modest drops COIN down about 0.3%, and Block down 0.09%. Robinhood fell 0.15%.
Some analysts see this as Ark reducing risk around public crypto-exchange stocks. Ark’s pivot echoes a broader shift: a move toward blockchain infrastructure companies and ETH-backed entities.
Industry thought-leaders point out the growing institutional appetite for ETH treasury strategies. Neo-MicroStrategy firms like Bitmine offer more predictable exposure to Ethereum, which some investors prefer over volatility tied to trading volume.
Implications for Coinbase
We don’t interpret Ark’s move as a finale for Coinbase. The exchange remains a vital part of crypto infrastructure. That said, selling $12 million in shares suggests Ark has less confidence in COIN’s near-term upside.
Coinbase faces challenges: tougher regulation, competition, and shifting investor preferences. Ark may be positioning to avoid risks tied to exchange fee cycles, compliance pressure, or market sentiment swings.
Broader Impact on Crypto Investment Trends
Ark Invest’s moves reflect a larger shift in institutional crypto investing. Investors are favoring ETH-backed treasury companies over exchange equities. They are betting on decentralized infrastructure, staking revenue, and network growth over trading volume.
Other firms are following. Bitmine isn’t alone. Companies like SharpLink Gaming and The Ether Machine have adopted ETH treasury strategies. They aim to build lasting exposure to Ether as a financial asset.
Wrap Up
Ark Invest is shifting course. It sold over $12 million of Coinbase shares. At the same time, it made one of its largest crypto bets ever, investing up to $182 million in Bitmine, an Ethereum treasury firm.
This reflects Ark’s growing faith in Ethereum and its infrastructure. It also underscores Ark’s focus on innovation-driven, operational crypto plays over exchange-centric stocks. We’ll keep watching where they turn next and where Ether-based strategies lead the way.
Frequently Asked Questions (FAQ)
No, Ark Invest is not listed on Coinbase. But Ark has owned Coinbase stock in the past through its investment funds.
Yes, Ark Invest puts money into crypto-related assets. It has invested in Bitcoin, Ethereum, and companies linked to blockchain and crypto technology.
That choice depends on your goals and risk level. Coinbase stock can go up or down quickly. It’s best to research more or ask a financial advisor.
Ark Invest puts money into new technology. They like things like electric cars, DNA research, robots, artificial intelligence, and crypto-related companies.
Disclaimer:
This is for information only, not financial advice. Always do your research.