financeliberal
Cathie Wood Bets Big on Crypto While Cutting Air‑Taxi Shares
USAMonday, June 8, 2026
Cathie Wood, chief of ARK Invest, rebalanced her ETF holdings on June 5 by:
- Adding shares of Circle Internet Group and Coinbase Global, both key players in the cryptocurrency space, even as Bitcoin slid sharply that week.
- Trimming her stake in Archer Aviation, an electric air‑taxi maker.
Market Context
- Bitcoin fell over 16 % in the week, dipping below $60,000 for the first time since last October.
- The token’s yearly decline is close to 30 %, reflecting worries about regulation, higher Treasury yields and money leaving spot Bitcoin ETFs.
Key Moves
| Holding | Action | Shares | Cost (approx.) | Market Reaction | Analyst Outlook |
|---|---|---|---|---|---|
| Circle | Purchase | 100,250 | $9 M | Stock dropped 11 % that day | Moderate buy; target $146 → +80 % upside |
| Coinbase | Purchase | 13,065 | $2 M | Share price fell ~7 % on Friday | Moderate buy; target $236 → +55 % upside |
| Archer Aviation | Sale (total) | 1,468,000 (incl. earlier 468k) | $8 M | Shares fell 13 % that day; YTD down ~26 % | Bullish on future, but Wood reduced exposure |
Upside Comparison
- Archer Aviation: >120 % upside estimate
- Circle: ~82 % upside
- Coinbase: ~55 % upside
Despite recent market weakness, Wood appears to trust the long‑term prospects of these tech firms more than short‑term swings.
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