Finance

Cathie Wood’s Ark Invest Doubles Down on Ethereum Treasury Firm, Eyes $1.2M Bitcoin Target

Ark Invest, led by Cathie Wood, invested over $9M in BitMine, despite lowering Bitcoin price target.

byAndres Castro

November 7, 2025, 2:36 PM

A physical Bitcoin coin is centered beneath the blurred logo of investment firm ARK Invest. By

Executive Summary

Ark Invest, led by Cathie Wood, acquired over $9 million in BitMine Immersion Technologies (BMNR) shares, making BMNR the largest publicly traded Ethereum treasury firm held by Ark’s actively managed ETFs.

Cathie Wood revised Ark Invest’s 2030 Bitcoin price target down to $1.2 million from $1.5 million, citing the rapid adoption and utility of stablecoins in emerging markets.

The acquisition of BMNR occurred amidst dips in its shares and Ethereum’s price, underscoring Ark Invest’s consistent long-term bullish outlook on the broader cryptocurrency ecosystem.

The Story So Far

Ark Invest, led by Cathie Wood, maintains a long-term bullish outlook on the broader cryptocurrency ecosystem, driving continued investment in crypto equities like BitMine Immersion Technologies, even as Wood revised her 2030 Bitcoin price target downwards due to the rapid adoption and utility of stablecoins in emerging markets, which she believes are now fulfilling roles previously envisioned for Bitcoin.

Why This Matters

Ark Invest’s continued investment in Ethereum treasury firm BitMine Immersion Technologies, despite current market dips, underscores a persistent long-term bullish outlook on the broader digital asset ecosystem, particularly for Ethereum-related assets. However, Cathie Wood’s downward revision of her 2030 Bitcoin price target, attributing it to stablecoin adoption, signals a shifting institutional perspective on Bitcoin’s role and utility, suggesting that other digital assets are increasingly fulfilling previously anticipated functions.

Who Thinks What?

Ark Invest, led by Cathie Wood, demonstrates a long-term bullish outlook on the broader cryptocurrency ecosystem by acquiring over $9 million worth of shares in Ethereum treasury firm BitMine Immersion Technologies (BMNR).

Cathie Wood revised her 2030 Bitcoin price target down to $1.2 million from $1.5 million, citing the rapid adoption and utility of stablecoins in emerging markets as they fulfill roles previously envisioned for Bitcoin.

BitMine Chairman Tom Lee viewed Ark Invest’s earlier significant purchase of BMNR shares as an “exponential opportunity.”

Ark Invest, led by Cathie Wood, acquired over $9 million worth of shares in Ethereum treasury firm BitMine Immersion Technologies (BMNR) on Thursday, even as Wood publicly revised her 2030 Bitcoin price target down to $1.2 million from $1.5 million. The investment firm’s actively managed ETFs now hold approximately $260 million in BMNR, making BitMine the largest publicly traded Ethereum treasury firm.

Ark Invest’s BMNR Acquisition

The firm purchased 240,507 shares of BMNR through its ARKK, ARKF, and ARKW ETFs. This latest acquisition comes amidst a dip in BMNR shares, coinciding with Ethereum’s price fall from its recent all-time high. BitMine Immersion Technologies currently holds nearly 3.4 million ETH, valued at approximately $11.3 billion, positioning it as the second-largest publicly traded digital asset treasury behind MicroStrategy’s Bitcoin holdings.

Ark Invest had previously made its largest BMNR purchase in July, adding around 4.7 million shares when the stock was trading at approximately $40.77. At that time, BitMine Chairman Tom Lee expressed delight at Wood’s investment, calling it an “exponential opportunity.”

Bitcoin Price Target Revision

Despite the continued investment in crypto equities, Cathie Wood made headlines by lowering her bullish Bitcoin price target for 2030. She cited the rapid adoption and utility of stablecoins in emerging markets as the primary reason for this revision.

Wood stated in a CNBC interview that stablecoins are now serving some of the roles previously envisioned for Bitcoin, leading her to reduce the bullish forecast by $300,000. The new $1.2 million target aligns with Ark Invest’s earlier “base case” scenario for Bitcoin by 2030, which considers the active supply of the cryptocurrency.

Market Context and Outlook

The latest moves by Ark Invest occur as Bitcoin has experienced recent volatility, briefly dipping below $100,000 for the first time since May. Ethereum has also seen a decline, trading nearly 33% off its August all-time high of $4,946.

Despite these market fluctuations, Ark Invest’s consistent investments in digital asset-related companies like BitMine Immersion Technologies underscore its long-term bullish outlook on the broader cryptocurrency ecosystem.