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08/11/25 17:44 UTC-04

ARK Invest sells Tesla shares and buys BitMine shares

Cathie Wood’s ARK Invest has increased its stake in Tom Lee’s company BitMine, which is engaged in ether storage, and reduced its stake in Tesla.

According to the report, ARK acquired a total of 48,454 BitMine shares (worth about $2 million) through three of its exchange-traded funds, including ARK Innovation ETF (ARKK), ARK Fintech Innovation ETF (ARKF), and ARK Next Generation Internet ETF (ARKW).

Cathie Wood’s investment funds have increased their investments in BitMine since the company began accumulating Ethereum as a treasury asset in April 2025.

Since the beginning of the year, BitMine’s shares have risen by 415%, and they increased by 7.65% on the last trading day.

At the same time, ARK sold about 71,638 Tesla shares from its funds for approximately $30 million at Tesla’s closing price of $429.52. The ARKK and ARKW ETF funds reduced their stake in Elon Musk’s company, which has been one of ARK’s flagship positions since 2018.

This happened after Tesla shareholders approved CEO Elon Musk’s compensation package worth nearly $1 trillion. The proposal was supported by 75% of voting shares. The decision, announced at Tesla’s annual shareholder meeting, will strengthen Musk’s control over the company and increase his ownership from 13% to 25%.

See also: "U.S. Shutdown Cuts Economic Growth by 1.5%: Costs Reach $15 Billion Per Week"

#BitMine #Ethereum (ETH)

Editor: Yulia Krasnaya
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