Ark Invest buys $4.5 million worth of BitMine shares, offloads Robinhood stock

Cathie Wood's Ark Invest purchased additional shares in BitMine Immersion Technologies worth $4.46 million on Monday across three of its exchange-traded funds, while offloading some of its Robinhood Markets holdings.

The company's daily trading filing shows that the ARK Innovation ETF (ARKK) acquired 67,700 BitMine shares, while the ARK Next Generation Internet ETF (ARKW) bought 21,890 shares of BitMine. The ARK Fintech innovation ETF (ARKF) also purchased 12,360 BitMine shares.

Ethereum treasury company BitMine (BMNR) saw its shares rise 4.16% on Monday to close the day at $43.79. The stock further gained 0.71% during after-hours trading, according to The Block's price page. 

The company is the largest corporate holder of Ethereum, with approximately 1.78 million ETH, amid a growing trend among companies to add the world's second-largest cryptocurrency to their balance sheets.

Meanwhile, Ark Invest's ARKW sold 43,728 shares in Robinhood (HOOD), worth around $5.13 million. Robinhood's stock surged 15.8% on Monday to close at $117.28 after S&P Global announced that it will add Robinhood to the S&P 500 index.