Cathie Wood’s ARK Invest adds BitMine shares as it offloads $30M in Tesla stock

💡 DMK Insight

ARK Invest’s $2 million stake in BitMine is a bold move, especially with ETH at $3,409.74. This investment signals confidence in the crypto space, particularly in Ethereum’s potential for growth. BitMine’s stock skyrocketing 415% in 2025 could indicate a broader trend where institutional players are betting on infrastructure that supports Ethereum’s ecosystem. Traders should consider how this might affect ETH’s price action, especially if institutional interest continues to rise. Look for potential resistance levels around $3,500, where profit-taking could occur, and support near $3,200. But here’s the flip side: if the market corrects, we could see a sharp pullback in both ETH and related stocks like BitMine. Keep an eye on trading volumes and sentiment indicators to gauge whether this bullish momentum can sustain itself. The next few weeks will be crucial for confirming whether this is a short-term spike or the start of a longer trend.