Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made aggressive moves in the crypto space on August 1, snapping up more than $54 million worth of shares in Coinbase (COIN) and Ethereum-focused company, Bitmine Immersion Technologies (BMNR). Meanwhile, Wood trimmed her positions in online gaming platform Roblox (RBLX) and biotech firm Adaptive Biotechnologies (ADPT).
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Wood Doubles Down on Crypto Stocks
The biggest buy of the day was Coinbase, with ARK scooping up 94,678 shares worth $35.8 million across its ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF) funds. ARK also continued building its stake in Bitmine Immersion Technologies, purchasing 540,712 shares worth approximately $18.73 million. Like Coinbase, this investment was spread across ARKK, ARKW, and ARKF.
The fund has been actively increasing its Ethereum holdings, which now exceed $2 billion, and has plans to acquire and stake up to 5% of Ethereum’s total supply. BMNR stock has soared over 300% year-to-date, but Wood continues to buy aggressively on every pullback, showing strong conviction despite the sharp rally. Notably, the stock was down over 8% yesterday.
Beyond crypto, ARK added 342,933 shares of Roku (ROKU) worth $32.29 million, and 162,211 shares of Illumina (ILMN) for $17.28 million.
ARK Trims Stakes in RBLX and ADPT
On the sell side, Wood sold a considerable portion of Roblox, offloading 353,530 shares for a total of $48.71 million. ARK Invest also trimmed its position in Adaptive Biotechnologies, selling 39,393 shares for $403,384. This follows a multi-week pattern of steady selling in the stock, reflecting either valuation concerns or a shift in ARK’s genomics strategy.
Let’s take a brief look at how all these stocks perform on TipRanks’ Stock Comparison Tool.
