Overview
- JP Morgan acquired 1,974,144 BitMine shares worth about $102.5 million, according to reports citing filings shared by market trackers on X.
- The bank also cut its SBET position by roughly 70% in what observers describe as a portfolio pivot toward blockchain-linked equities.
- ARK Invest purchased 240,507 BitMine shares across ARKK, ARKW, and ARKF, adding during a session when BMNR fell 9.8%.
- BitMine has repositioned its business around building an Ethereum treasury and staking ETH, offering investors indirect exposure to the asset.
- Analysts frame these allocations as part of a broader move into Ethereum-linked stocks, with outcomes sensitive to ETH volatility and potential regulatory changes.