Ark of Cathie Wood bought Bitmine and sold Robinhood after inclusion in the S&P 500

By Hannah Pérez

Cathie Wood’s investment firm added Bitmine shares for USD $ 4.46 million and got rid of some of its participations in Robinhood just when its inclusion was announced in the S&P 500.

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• Cathie Wood’s investment firm added Bitmine shares for USD $ 4.46 million.
• He has been buying Bitmine shares as the company accumulates ETH for its treasury.
• Bitmine has the largest Ethereum treasury with more than 2 million ETH.
• Ark also sold Robinhood shares just when his inclusion was announced in the S&P 500.

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Ark Invest, The Cathie Wood Investment Company continued to expand its participation in the company with Treasury Ethereum, Bitmine, Bitmineand sold actions in Robinhood just in its expected incorporation to the S&P 500.

Monday, the firm bought additional actions from Bitmine Immersion Technologies for a value of USD $ 4.46 million While getting rid of some of his participations in Robinhood Markets (Hood).

As reported The Blockciting the daily commercial presentations, the actions were added to three of the funds quoted in the stock market (ETF) of ARK: Ark Innovation (Arkk), Ark Next Generation Internet (ARKW) and Ark Fintech (ARKF), which each added 67,700, 21,890 and 12,360 actions of Bitminerespectively.

ARK has been buying shares of Bitmine Since July, the same week as the company said that their ETH holdings had exceeded USD $ 2 billion for the first time. Since then, we have reported investments for more than USD $ 237 million in the company.

On Monday, Bitmine consolidated its position as the company with the greatest public treasury of Ethereumannouncing holdings for more than 2 million ETH, whose value is currently approaching $ 9 billion. The entity also said that it is 192 Bitcoins (BTC) in its reserve, which makes it the second largest corporate cryptocurrency treasury in the world.

The actions of Bitmine (BMNR), which rose 4.16% on Monday to close the day to $ 43.79, allow Wood’s signature to expose themselves to the second largest cryptocurrency amid an impulse fed by a renewed institutional appetite. The company has seen its actions rebound in more than 650% since it began its ETH accumulation strategy.

Ark Discharge Robinhood in 15% rise in the middle

On the other hand, ARK would have used sudden price in the shares of Robinhood To download 43,728 actions worth USD $ 5.13 million Through its Arkw fund, according to coverage.

The actions of Robinhood They rose 15.8% on Monday, which marked the greatest daily gain of the action since the beginning of April, closing the day at USD $ 117.28. The climb It coincided with the announcement of its inclusion in the S&P 500 index.

Robinhood joined the companies Coinbase and Block They are also part of the S&P 500, providing investors direct exposure to cryptocurrencies from one of the most popular traditional stock market rates on the market. Strategywith the greatest commitment to Bitcoinrecently failed to be included in the index despite meeting the requirements.

Wood’s investment firm usually takes advantage of the bullish moments to sell and the bearish seasons to buy with the intention of recovering the portfolios of its investment funds. The investment strategy of ARK Its objective is not to allow any individual participation to occupy more than 10% of the portfolio of a fund for diversification.

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Article written with the help of AI, edited by Diariobitcoin

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