Cathie Wood’s ARK Invest Buys Stake in Tom Lee’s Ethereum Firm, Sells Coinbase and Roblox Shares

July 22, 2025 — Cathie Wood’s ARK Invest has rebalanced its ETF portfolios, reducing exposure to Coinbase and Roblox while acquiring a 1.5% stake in Tom Lee’s Ethereum-focused firm, Bitmine Immersion Technologies, across three of its funds.

ARK Invest Reshuffles Holdings

ARK Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF) ETFs have undergone significant changes. The firm sold:

• 218,986 Coinbase (COIN) shares valued at $90.5 million.
• 463,293 Roblox (RBLX) shares worth $57.7 million.

These proceeds were reallocated into Bitmine Immersion Technologies, an Ethereum treasury firm chaired by Fundstrat’s Tom Lee. The newly acquired 4.4 million shares now represent 1.5% of each fund’s portfolio.

Bitmine’s Ethereum Pivot Gains Attention

Bitmine has attracted significant institutional interest since its shift to Ethereum. Following the announcement, the company’s stock skyrocketed, hitting $135 before stabilizing near $39.57 — still up over 400% year-to-date.