Cathie Wood's ARK Invest Boosts Crypto Holdings While Reducing Gaming and Biotech Stakes

Cathie Wood's ARK Invest ETFs have taken significant positions in the cryptocurrency sector on August 1, acquiring over $54 million in shares of Coinbase (COIN) and Bitmine Immersion Technologies (BMNR). Conversely, Wood reduced her holdings in online gaming company Roblox (RBLX) and biotech firm Adaptive Biotechnologies (ADPT). In a notable move, ARK purchased approximately 94,678 shares of Coinbase across multiple ETFs, totaling around $35.8 million. Simultaneously, the fund increased its stake in Bitmine Immersion Technologies by acquiring approximately 540,712 shares worth about $18.73 million, reflecting a strong conviction despite recent price volatility. ARK has also been expanding its Ethereum investments, now exceeding $2 billion, with plans to hold up to 5% of the cryptocurrency's total supply. Despite a year-to-date gain of over 300%, BMNR stock experienced a decline of more than 8% recently, yet ARK continues to buy on dips. Additionally, ARK added over 342,900 shares of Roku (ROKU) and 162,200 shares of Illumina (ILMN), valued at approximately $32.29 million and $17.28 million respectively. On the other hand, Wood divested a significant portion of her RBLX holdings...