Hedge fund manager Cathie Wood has allocated $182 million in capital to a newly launched Ethereum (ETH) treasury company.
According to ARK Invest’s fund page, the firm has invested in BitMine Immersion Technologies (BMNR), an Ethereum treasury company backed by billionaire Peter Thiel, with Fundstrat’s Tom Lee serving as chairman of the board of directors.
[adinserter block="1"]The shares of BMNR that ARK purchased were distributed among its ARK Innovation (ARKK), ARK Next Generation Internet (ARKW), and ARK Fintech Innovation (ARKF) ETFs.
Commenting on ARK’s investment, Tom Lee said Wood was a “pioneer of exponential investing.”
“We are delighted that Cathie Wood’s ARK Invest is taking a substantial stake in BitMine as she sees the exponential opportunity ahead as we target reaching 5% of ETH…
Cathie is a pioneer of exponential investing, having made early and profitable investments in Tesla, Bitcoin, and AI. Most recently, she was an anchor investor in Circle (ticker CRCL), one of the most notable IPO’s (initial public offerings) in the past 6 years.”
Posting on the social media platform X, Cathie Wood said BMNR will end up being a “winner” in the recent wave of Ethereum treasury companies.
“ARK Invest’s investment in BMNR is a vote of confidence that Fundstrat will be one of the winners as Ethereum powers DeFi (decentralized financial services) in the ‘winner takes most’ DAT (digital asset treasury) space. Very happy to be in such good company…
These companies could be the next gen asset managers in the on-chain capital markets age.”
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