Cathie Wood's Bold Moves in a Shaky Crypto Market

Major Investments in Crypto-Related Companies

Bitmine Immersion

• Purchased: ~450,000 shares
• Value: ~$14 million
• Background: Bitmine Immersion deals heavily with Ethereum, making its stock price sensitive to Ethereum's value fluctuations.

Coinbase

• Purchased: ~24,000 shares
• Value: ~$6 million
• Background: Coinbase, a leading cryptocurrency exchange, has been expanding its services, including stock trading, to drive future growth.

Bullish

• Purchased: ~200,000 shares
• Value: ~$9 million
• Background: Bullish has shown strong earnings and positive market predictions, making it an attractive investment.

Notable Sales in Non-Crypto Companies

Shopify

• Sold: ~65,000 shares
• Value: ~$11 million
• Background: Despite Shopify's growth, Ark Invest decided to reduce its holdings.

Other Sales & Purchases

• Sold: Shares in Roku and DraftKings
• Purchased: Shares in Recursion Pharmaceuticals and Brera Holdings

Market Context

• Crypto Market: Bitcoin and Ethereum were both experiencing declines.
• Economic Uncertainty: Investors were awaiting key economic news, adding to market volatility.

Conclusion

Ark Invest's strategic buying and selling reflect a calculated approach to navigating the unstable crypto market. By diversifying investments and reducing exposure to certain stocks, they aim to optimize their portfolio amid economic uncertainty.