Ark Invest offloads $5m Robinhood stock in profit-taking move to invest in Tom Lee’s BitMine

Core Insights - Ark Invest is increasing its exposure to higher-risk crypto assets while reducing its stake in Robinhood, indicating a shift in investment strategy towards more volatile opportunities [1][2] Group 1: Investment Moves - Ark Invest trimmed $5 million in Robinhood shares, which have surged nearly 300% since April, raising its market cap to $105 billion [2] - The firm added nearly $30 million in investments in BitMine and Bullish, both of which are focused on crypto assets [1][2] - Ark still holds $660 million in Robinhood shares, suggesting a strategy of taking profits while seeking new opportunities [2] Group 2: Market Trends - The purchase of BitMine signals institutional confidence in Ethereum as a leading blockchain for stablecoins and tokenized assets [3] - BitMine has become the largest corporate holder of Ethereum, while Bullish is positioned as a new alternative to Coinbase following a successful IPO [3] - There is a trend of digital asset company stock prices diverging from underlying crypto prices, raising questions about their investment viability [5] Group 3: Expert Opinions - Experts suggest that being long on crypto treasury stocks can be advantageous in a bull market due to their potential for higher returns [4] - The current market environment shows treasury firms trading below the value of their Bitcoin holdings, challenging traditional investment models [4]