Hedge fund supervisor Cathie Wooden has allotted $182 million in capital to a newly launched Ethereum (ETH) treasury firm.
Based on ARK Make investments’s fund web page, the agency has invested in BitMine Immersion Applied sciences (BMNR), an Ethereum treasury firm backed by billionaire Peter Thiel, with Fundstrat’s Tom Lee serving as chairman of the board of administrators.
The shares of BMNR that ARK bought had been distributed amongst its ARK Innovation (ARKK), ARK Subsequent Technology Web (ARKW), and ARK Fintech Innovation (ARKF) ETFs.
Commenting on ARK’s funding, Tom Lee mentioned Wooden was a “pioneer of exponential investing.”
“We’re delighted that Cathie Wooden’s ARK Make investments is taking a considerable stake in BitMine as she sees the exponential alternative forward as we goal reaching 5% of ETH…
Cathie is a pioneer of exponential investing, having made early and worthwhile investments in Tesla, Bitcoin, and AI. Most not too long ago, she was an anchor investor in Circle (ticker CRCL), one of the vital notable IPO’s (preliminary public choices) up to now 6 years.”
Posting on the social media platform X, Cathie Wooden mentioned BMNR will find yourself being a “winner” within the latest wave of Ethereum treasury corporations.
“ARK Make investments’s funding in BMNR is a vote of confidence that Fundstrat will likely be one of many winners as Ethereum powers DeFi (decentralized monetary providers) within the ‘winner takes most’ DAT (digital asset treasury) house. Very comfortable to be in such good firm…
These corporations may very well be the subsequent gen asset managers within the on-chain capital markets age.”
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