ARK Invest Trims Ethereum Exposure on Network's 11th Anniversary
On July 30, ARK Invest reduced its exposure to Ethereum by selling 33,560 shares of Bitmine Immersion Technologies (BMNR), a company that manages an Ether treasury. The sale occurred as the Ethereum network marked its 11th anniversary and came despite ARK previously describing BMNR’s strategy as an 'exponential opportunity' for growth through 2026. In addition to trimming BMNR, ARK also sold shares in Bullish (BLSH), a crypto exchange backed by Peter Thiel. On the same day, however, the firm purchased $14.3 million worth of Meta Platforms (META) stock following its Q2 earnings report, which showed strong revenue but weaker-than-expected EPS. Ethereum has declined 37% this year but gained 16% in July alone, while BMNR shares are down 38% for the year. ARK’s strategic moves reflect shifting portfolio allocations amid ongoing volatility in both crypto and traditional markets.
