Money Tree Sister buys $4.5 million of Bitmain shares… Robinhood sells

Ark Invest, led by Cathie Wood, has reportedly made a large purchase of shares in Bitmain Emergence Technologies (hereafter Bitmain), an Ethereum (ETH) holding company.

On the 8th (local time), according to crypto-focused outlet The Block, Ark Invest bought 101,950 shares of Bitmain the previous day through three of its exchange-traded funds (ETFs). ARK Innovation ETF (ARKK) acquired 67,700 shares, ARK Next Generation Internet ETF (ARKW) acquired 21,890 shares, and ARK Fintech Innovation ETF (ARKF) acquired 12,360 shares.

Bitmain's stock closed at $43.79 that day after rising 4.16%, and gained an additional 0.71% in after-hours trading. Bitmain is considered the largest Ethereum-holding company, owning about 1.78 million Ethereum.

Meanwhile, Ark Invest sold 43,728 shares of Robinhood through ARKW that day.