ARK Invest has increased its exposure to BitMine Immersion (BMNR) with a new purchase of approximately 15.6 million dollars, as shown by the daily trading data at ARK daily trades and reported in the statement released in July via PR Newswire. The order adds to the previous investment announced in July 2025 and confirms the growth of ARK’s exposure to issuers with treasuries or revenues linked to Ether.
Overall, ARK’s position in BMNR now exceeds ~307 million dollars, according to market reports and aggregated filings, reinforcing the allocation strategy in Ether linked to the corporate treasury.
According to the data collected by our editorial team and the cross-analysis of SEC filings and market reports, the operation was recorded on August 28, 2025, in ARK’s daily trading. Industry analysts monitoring ETF portfolios note that repeated tranches on crypto-native stocks are a method adopted to gain exposure to the ecosystem without directly holding tokens in regulated funds.
The Details: Bitmine Purchases Distributed Across Three ARK ETFs
The latest tranche, executed on Wednesday, is documented by ARK’s daily trading. The breakdown by vehicle is as follows:
| ETF ARK | BMNR Shares Purchased |
| ——————————————- | ———————- |
| ARK Innovation ETF (ARKK) | 227,569 |
| ARK Next Generation Internet ETF (ARKW) | 70,991 |
| ARK Fintech Innovation ETF (ARKF) | 40,553 |
With this block, the approach of ARK Invest towards companies that integrate Ethereum into their business models is confirmed.
A consistent bet with ETH allocation
In this context, ARK’s thesis is clear: focus on companies that accumulate or expose their business to Ethereum, in order to obtain a beta on the asset without necessarily holding the tokens directly in regulated funds. The investment in BMNR complements the stake in Coinbase, amounting to approximately 676 million dollars according to recent filings, as highlighted in the latest communications to SEC EDGAR. An interesting aspect is that the size of the position in BMNR appears as an additional piece to diversify exposure to the ETH ecosystem.
it reads in the statement released in July.
Impact on BMNR Stock and Market Context
On the day of the operation, BMNR closed the session around 46.03 dollars (with a decline of about 7.85% compared to the day) and recorded further slight declines in after-hours, settling around 45.01 dollars, according to market data reported by The Block. It should be noted that the short-term volatility did not erase the recovery achieved since the beginning of the year: some reports indicate YTD gains exceeding 500% for the stock, highlighting the strong speculative component present in the segment.
Impact of the Operation on ARK’s Strategy
The increase in exposure to BMNR strengthens ARK’s indirect strategy towards ETH, through holdings in companies that benefit from reserves or revenues linked to the asset. In this way, the manager combines the pursuit of technological growth with an allocation in Ether mediated by the industrial activity of its investees. Looking ahead, the positioning could offer selective leverage on the ecosystem cycles.
Risks and Governance: The Dossiers on CFOs’ Desks
- Volatility: the price movements of ETH can be reflected in the multiples of exposed companies.
- Regulation: the regulatory evolution regarding the accounting and custody of digital assets remains a central theme.
- Operations: choices related to custody, security, and internal control in the case of direct holding are crucial.
For companies, managing a treasury in Ethereum can redefine the risk-return profile of the balance sheet, offering greater growth opportunities along with more pronounced fluctuations; the choice between direct and indirect exposure thus remains at the center of the governance debate.
Current Trend: More ETH in Balances, More Indirect Exposure
In recent months, several managers have increased their exposure to ETH, both through direct holding of the tokens and through investments in crypto-native companies. A significant aspect is the gradual approach: in the case of ARK, the tranches reported in July 2025 and the additions in August on BMNR outline a progressive path, confirmed by daily reports and periodic filings.
The debate: strategic asset or balance sheet risk?
The adoption of “crypto-forward” fiscal policies reignites the debate between those who consider ETH a growth reserve and those who fear possible procyclical effects on margins and multiples. In this context, ARK’s choice on BMNR could encourage other asset managers to consider similar vehicles to gain exposure to the Ethereum ecosystem, avoiding direct purchase of the tokens.
Conclusion
ARK’s latest purchase of BMNR reinforces an already structural thesis: increasing exposure to the Ethereum ecosystem through equity in companies that adopt models and reserves linked to ETH. A strategy that, while it can amplify returns during bull phases, also requires discipline in managing regulatory, custody, and the inherent volatility risks of the asset. For boards, balancing growth opportunities and risk control remains the central challenge.
Source: https://en.cryptonomist.ch/2025/08/28/ark-pushes-on-bitmine-new-15-6-million-dollars-to-strengthen-exposure-to-ethereum/
