ARK Sold Coinbase & Roblox! What Did It Buy Instead?

Yeliz Akmaca — Tue, 22 Jul 2025 12:00:34 +0000

Cathie Wood’s investment firm ARK Invest has made a notable shift in its portfolio. The firm sold around $150 million worth of Coinbase and Roblox shares to purchase shares of Bitmine Immersion Technologies, a company known for its focus on digital mining and Ethereum-based activities.

ARK Invest acquired a total of 4.4 million Bitmine shares, valuing the investment at approximately $175 million. This strategic move reshapes the company’s portfolio and underscores institutional investors’ growing interest in digital assets. Additionally, ARK used part of the sale proceeds to purchase shares in other companies, including Advanced Micro Devices (AMD), Airbnb (ABNB), and DoorDash (DASH).

Bitmine is more than just a mining company. It differentiates itself in the industry through its Ethereum staking strategies and institutional ETH reserve structure. Tom Lee, a Fundstrat executive, serves as the chairman of Bitmine’s board, boosting investor confidence. Moreover, backing from Peter Thiel gives Bitmine a strong edge in institutional support.

Coinbase and Roblox Sell-Off Signals Shift

ARK significantly reduced its portfolio by selling about 218,986 shares of Coinbase and 463,293 shares of Roblox. The bulk of the proceeds was directly allocated to the Bitmine investment.

This exit from publicly traded tech giants like Coinbase and Roblox signals ARK’s shift in focus toward Ethereum and staking-oriented structures. However, investors are debating whether this strategy supports ARK’s long-term digital asset vision.

Beyond portfolio diversification, the investment sends a strong message about the future of institutional asset management, potentially acting as a signal for other major investors in the sector.

Investor Interest Clusters Around Bitmine

Bitmine Immersion Technologies has gained attention with its Ethereum-based reserve strategy, moving beyond conventional mining operations to become a focus for institutional investors. ARK Invest has allocated a 1.5% share of each of its ETFs to Bitmine, indicating the firm’s view of the company as a long-term strategic asset.

In conclusion, ARK’s shift from Coinbase and Roblox to Bitmine may signal a new era in digital asset management. The move suggests that institutional investors are increasingly prioritizing Ethereum-based structures.

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The post ARK Sold Coinbase & Roblox! What Did It Buy Instead? appeared first on Coin Engineer.

SEC Announces Decision on Polkadot (DOT) ETF! Details Inside

Yeliz Akmaca — Wed, 25 Jun 2025 07:08:14 +0000

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the Polkadot (DOT) Spot ETF application submitted by 21Shares to November 8, 2025. Despite this development, DOT’s price surged by 8.55% in the past 24 hours, reflecting investors’ optimistic sentiment. Bloomberg analysts assess the approval chance for the Polkadot ETF at 90%.

Polkadot ETF Decision Postponed to November 8, 2025

The SEC has delayed its decision regarding the Polkadot ETF application submitted by 21Shares. The initial evaluation date was set for June 24, 2025. However, the Commission extended the review period due to its cautious approach toward cryptocurrency-related ETF applications. The new decision date is now set for November 8, 2025.

Previously, Grayscale’s Polkadot ETF application also faced delays, with an expected decision on June 11 being postponed. This shows the SEC’s ongoing meticulous analysis process concerning crypto ETF proposals.

This extension is not exclusive to Polkadot. ETF applications for popular altcoins such as XRP, Litecoin (LTC), Solana (SOL), and Dogecoin (DOGE) have also faced similar delays.

DOT Price Rises 8.55%, Market Remains Hopeful

Polkadot’s price has increased by 8.55% in the last 24 hours, despite the decision delay, as investor interest continues to grow. Two primary reasons lie behind this surge: easing tensions between Iran and Israel and an improved overall market sentiment. Bitcoin breaking the $106,000 level also contributed to the rally in the altcoin market.

Bloomberg analysts Eric Balchunas and James Seyffart view the SEC’s interactions with crypto ETFs positively. They estimate a 90% chance of approval for the 21Shares Polkadot ETF. Seyffart noted that the process could extend into the final quarter of the year, but the SEC’s constructive stance is promising.

Meanwhile, in 2026, memecoin-based ETFs such as Dogecoin (DOGE) and Shiba Inu (SHIB) are expected to enter discussions. The SEC is anticipated to prioritize key concerns such as market manipulation, volatility, and investor protection when evaluating these products

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