Cathie Wood Supports Ethereum Treasury Strategy with $182M BitMine Bet

Cathie Wood announced a $182M investment in BitMine’s Ethereum strategy as presales like Snorter Token benefit from the hype.

Cathie Wood, a long supporter of Bitcoin, is voting with her wallet.

Her ARK Invest company just bought $182M of BitMine Immersion stock, supporting the latter company’s Ethereum treasury strategy.

The move signals confidence in $ETH’s potential to transform the corporate treasury landscape.

Not just a crypto champion, Cathie Wood is now advocating for Digital Asset Treasury companies. Is she once again showing the path forward?

Evolution of the Digital Asset Treasury Model

MicroStrategy spearheaded the trend with Bitcoin reserve accumulation. Now, Ethereum is emerging as the next frontier, offering programmable capabilities, proof-of-stake yield, and centrality in the booming stablecoin ecosystem.

Those fees – as well as the yield-generating possibilities with Ethereum – have led to a recent rush of investment into Ethereum as a crypto treasury model.

That’s not to say that Ethereum has replaced Bitcoin – Michael Saylor’s (Micro)Strategy continues to dominate the crypto treasury model that it pioneered back in 2020.

But Bitcoin’s strengths – proof of work and its position as the OG cryptos – are also its weaknesses. Stacking Bitcoin works because the underlying price increases.

Stacking Ethereum works because the potential for yield generation with $ETH acts like interest, with investors potentially earning more $ETH as it sits in the treasury.

And investors were quick to catch on – and when BitMine first made moves towards a full-on Ethereum strategy in late June, the money poured in.

BitMine’s $ETH Charge Was a Natural Course of Action

In June, BitMine announced a $250M capital raise to pivot into an ETH treasury. It’s target was to raise 300K $ETH – about 5% of total supply – with plans to stake holdings to secure yield

Steering the shift towards Ethereum were Fundstrat’s Tom Lee as Board Chair and heavyweight investors like Peter Thiel, who holds a 9.1% stake through Founders Fund. The strategy immediately paid off, sending $BMNR soaring before returning to earth slightly.

That was apparently enough to attract the attention of ARK Invest and Cathie Wood.

ARK Invest’s Strategic Pivot

ARK Invest sold off $90M in Coinbase and $57M in Roblox to free up capital for the BitMine investment, marking a significant portfolio rebalancing.

It deployed $182M via block trades across three core ETFs – ARKK, ARKW, and ARKF. All three now hold a 1.5% stake in BitMine. Wood described this as recognizing the ‘exponential opportunity’ presented by Ethereum and DeFi.

Ethereum itself has been riding high recently, up 64% over the past month – corresponding nicely with BitMine’s initial $250M raise.

And as for BitMine, it plans to use ‘100% of net proceeds of $177M from ARK sale’ to buy more $ETH, potentially further fueling demand.

There’s a fierce investor appetite for Ethereum-anchored corporate treasury approaches. What does that mean for emerging cryptos like Snorter Token ($SNORT)?

Snorter Token ($SNORT) – Solana Meme Coin Trading Bot with Multichain Token

A multi-chain token on Ethereum and Solana, Snorter Token ($SNORT) powers the Snorter Bot – simply the best way to find, snipe, and trade Solana meme coins.

Many top meme coins never reach the big exchanges. Instead, they trade underground on platforms like Telegram. That’s great for dedicated chart-sniffing degens, but hard for average traders to find them, let alone trade with speed and accuracy.

Enter Snorter, the bot designed to make trading low-cap meme coins easy. With Snorter, you’ll get easy swaps, automated sniping, and a host of other tools designed to streamline the entire process.

And while those features will initially be available only for Solana’s meme coin ecosystem, the Snorter Token roadmap indicates a planned expansion to Ethereum as part of the project’s Stage 3 development.

Join the $2.2M presale and don’t miss the easiest way to trade and earn Solana meme coins.

Ethereum’s Institutional Adoption Boosts Crypto Presales

Ethereum’s institutional adoption is now being reinforced by stablecoin-friendly legislation and regulatory frameworks. With Ethereum now entering the treasury reserve toolkit alongside Bitcoin, the entire crypto ecosystem is getting a much-needed boost.

That means projects like Snorter Token ($SNORT) are launching at just the right time.

As always, do your own research – this isn’t financial advice.

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.