Cathie Wood’s Radical Move: Why She’s Betting Big on Ethereum and Walking Away from Robinhood—What It Means for Investors Now

Ever wonder why a titan like Cathie Wood would suddenly toss Robinhood shares overboard to cozy up with BitMine Immersion Technologies? It’s like switching your go-to coffee spot because the new place has that secret, unbeatable brew—only this time, it’s about Ethereum and not espresso. ARK Invest’s bold move to pump up their Ethereum exposure by purchasing $4.46 million in BitMine shares isn’t just a simple portfolio shuffle; it’s a powerful nod to ETH’s massive potential and BitMine’s rising stature as an Ethereum treasury powerhouse. Meanwhile, trimming back on Robinhood—even amid its recent S&P 500 debut hype—suggests Wood sees a smarter, longer-term play unfolding in the crypto space. Curious about what’s really driving this strategic pivot? Let’s dive into why this shift spells big confidence in Ethereum’s future and what it tells us about smart investing in today’s volatile market. LEARN MORE

Key Takeaways

Cathie Wood’s ARK Invest has boosted its Ethereum exposure by increasing its BitMine Immersion Technologies holdings, signaling strong confidence in ETH’s long-term potential. 

ARK Invest, the asset management firm led by Cathie Wood, has ramped up its exposure to crypto-linked equities with a fresh investment in BitMine Immersion Technologies.

On the 8th of September, the company disclosed that it purchased BitMine shares worth $4.46 million across three of its exchange-traded funds, even as it trimmed its position in Robinhood.

Why BitMine?

The move comes as BitMine (BMNR), an Ethereum [ETH]-focused treasury company, posted gains in both regular and after-hours trading. 

At press time, too, its stock price was trading at $44.08 after a hike of 0.67% in the past 24 hours, as per Yahoo Finance.

This was all because of the firm’s massive ETH holdings.

The company is currently the largest corporate holder of ETH, with estimates ranging between 1.78 million and more than 2 million tokens, equivalent to roughly 1.7% of the total supply.

Earlier this year, BitMine also turned a $20 million stake in Eightco Holdings into an astounding $628 million within a single trading day, following a 3,000% surge in OCTO’s stock price tied to its Worldcoin [WLD] Treasury announcement.

Such high-profile gains have further cemented BitMine’s reputation as a powerhouse within the crypto-treasury space.

Why is ARK Invest giving up on Robinhood?

At the same time, ARK rebalanced its portfolio by cutting exposure to Robinhood Markets.

The ARK Next Generation Internet ETF (ARKW) sold nearly 44,000 Robinhood shares worth around $5.1 million, even as the stock surged 16% on the 8th of September after being added to the S&P 500 index.

Wood’s funds also trimmed around 10,000 shares of Teradyne, though the Robinhood sale stood out as the most notable divestment of the day.

This further coincided with the firm acquiring $182 million in BMNR shares, calling it a “vote of confidence” in Tom Lee’s Ethereum treasury strategy. 

All in all, ARK Invest’s portfolio reshuffle highlights a strategic pivot, signaling strong confidence in Ethereum’s long-term potential.