Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made notable portfolio adjustments on Wednesday, December 17, as revealed in daily fund disclosures. These trades reflect ARK’s ongoing focus on “disruptive innovation,” including blockchain, fintech, and digital platforms, while trimming positions in areas showing slower growth.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
ARK Buys the Dip in Crypto Stocks
The fund’s largest trade of the day was the purchase of 360,232 shares of blockchain firm Bitmine Immersion Technologies (BMNR), for about $11.3 million. Wood capitalized on the 6.6% dip in BMNR stock, purchasing shares through the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).
BMNR has lost more than 16% over the past five days, despite reporting crypto + total cash + “moonshots” holdings totaling $13.2 billion. Wood has been accumulating BMNR shares lately, betting on the future potential of this sector.
Wood also purchased 209,886 shares of crypto exchange and blockchain tech firm Bullish (BLSH), through the same three funds for roughly $9 million. BLSH stock was also down 1.9% yesterday.
Other crypto purchases included adding 24,198 shares of Coinbase Global (COIN) as it expands into equity trading and prediction markets. Wood also purchased 930,566 shares of Solana (SOL-USD) infrastructure company Brera Holdings (SLMT), amounting to $2.20 million. Another interesting purchase was the addition of 123,509 shares of gaming platform Roblox (RBLX) with a pre-reincorporation status, for about $10.8 million.
What Did Cathie Wood Sell?
On the sell side, Wood sold 98,223 shares of streaming platform Roku (ROKU) for $10.9 million, although its shares were down 3%. ARK also sold 310,548 shares of sports betting platform DraftKings Inc. (DKNG) for $10.7 million and 65,302 shares of e-commerce platform Shopify Inc (SHOP) for $10.6 million. These moves show that ARK is selling from companies facing headwinds, freeing capital for higher-conviction bets.
Wood’s Strategic Portfolio Shuffle
Let’s see how Wood’s preferred crypto stocks perform using the TipRanks Stock Comparison Tool:
Currently, analysts have a Moderate Buy consensus rating on Bitmine Immersion, Coinbase, and Bullish shares, with BMNR offering the highest upside potential over the next twelve months.
