Cathie Wood shells out $22.8M to acquire hot new pick initially appeared on TheStreet.

It appears Ark Make investments CEO Cathie Wood has turn into so keen on her new favourite crypto inventory that she is prepared to let go of her previous favorites.

On July 28, the funding agency once more purchased $22.8 million value of 572,853 BitMine Immersion Applied sciences (NYSE: BMNR) shares throughout three funds. ARK earlier purchased $182 million in BMNR shares, with Wooden going as far as to say her funding within the agency is a “vote of confidence.”

Fundstrat’s Tom Lee, who not too long ago joined because the Chairman of BitMine’s Board of Administrators, could be very bullish on Ethereum and has set the agency’s goal of stacking 5% of ETH.

Bitmine is the biggest Ethereum treasury agency, which holds 625,000 ETH value $2.35 billion. On July 29, it announced a $1 billion inventory repurchase program.

Be a part of the dialogue with CryptoWendyO on Roundtable here.

Whereas pursuing the acquisition of the brand new crypto favourite, ARK Make investments dumped a few of the previous favorites. The funding agency offered $6.9 million value of Coinbase (Nasdaq: COIN) shares, $12.7 million value of Robinhood Markets (Nasdaq: HOOD) shares, and $15 million value of Jack Dorsey’s Block, Inc. (NYSE: XYZ) shares.

Whereas Coinbase is the biggest crypto alternate within the U.S., Robinhood provides each inventory and crypto buying and selling. Jack Dorsey’s Block, Inc., however, is a fintech agency that has a number of Bitcoin-focused merchandise. Wooden’s funding agency nonetheless has substantial inventory holdings in all these corporations.

Apart from HOOD, all of the shares dipped on July 28.

Whereas HOOD rose modestly to shut at $106.77, COIN fell almost 4% to shut at $379.49, and XYZ fell lower than 1% to shut at $80.57.

BMNR, the inventory Wooden has been stacking, dipped as a lot as 15% to shut at $35.11.

Cathie Wood shells out $22.8M to acquire hot new pick first appeared on TheStreet on Jul 29, 2025

This story was initially reported by TheStreet on Jul 29, 2025, the place it first appeared.