
ARK Invest purchased more than 100,000 Bitmine shares after the Ethereum treasury company reached a milestone in ETH holdings.
Cathie Wood’s ARK Invest bought more shares in Tom Lee’s Ether treasury firm Bitmine as the crypto treasury hit a milestone in Ether holdings.
ARK Invest purchased 101,950 shares worth around $4.4 million in Bitmine Immersion Technologies (BMNR) on Monday, spread across three funds: The Ark Innovation ETF, which now holds a 2.6% allocation to Bitmine, the Ark Next Generation Internet ETF and the ARK Fintech Innovation ETF, which holds similar allocations.
The three funds combined currently hold 6.7 million Bitmine shares worth a total of $284 million, according to the fund prospectuses.
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ETHZilla CEO McAndrew Rudisill said the company’s strategy is to deploy Ether on the Ethereum network through layer-2 protocols and tokenizing real-world assets. Ether treasury company ETHZilla is looking to raise another $350 million through new convertible bonds, with funds marked for more Ether purchases and generating yield through investments in the ecosystem. ETHZilla chairman and CEO McAndrew Rudisill said on Monday that the company’s strategy is to deploy Ether (ETH) in “cash-flowing assets” on the Ethereum network through layer-2 protocols and tokenizing real-world assets. A growing number of digital asset companies are moving past simply holding crypto and looking to generate yields through active participation in the ecosystem, which crypto executives told Cointelegraph in August, could help spark a DeFi Summer 2.0.Read more

