Latest news with #ArkInvestmentManagement


Bloomberg
17 hours ago
- Business
- Bloomberg
Tom Lee's Crypto Treasury Initiates Buyback a Month After Debut
Less than a month ago, investors such as Cathie Wood's Ark Investment Management were snapping up the shares of BitMine Immersion Technologies Inc. after Tom Lee of Fundstrat Global Advisors spearheaded the transformation of the Bitcoin miner into a crypto treasury company. But as of Tuesday, following announcements that the company registered for the resale of stock and authorized the repurchase of $1 billion of common shares, investors appeared less enthused. The Las Vegas-based company's shares - which soared almost 700% to $135 on June 30 - slumped as much as 13% to $30.60 on Tuesday.


Bloomberg
7 days ago
- Business
- Bloomberg
Crypto's Wealth Pitch Grows on Tax Trades as 401(k) Push Builds
As Washington looks to open up America's $9 trillion in retirement savings to alternative assets — a shift that may pave the way for crypto — Eaglebrook Advisors Inc. offers a glimpse into how digital assets are being integrated into professionally managed investment accounts. Four years ago, the New York-based firm was a niche provider of customized crypto portfolios to wealth advisers. Today, with Bitcoin's surge and the Trump administration's pro-crypto backing stoking fresh interest, Eaglebrook's partnerships have grown to more than 90 registered investment advisers overseeing $2 trillion in assets, including the likes of Franklin Templeton and Cathie Wood's Ark Investment Management.


Bloomberg
22-07-2025
- Business
- Bloomberg
Cathie Wood's Ark Bets on Tom Lee's Ether Treasury Firm BitMine
Cathie Wood snapped up shares of Tom Lee's BitMine Immersion Technologies Inc., a US-listed Bitcoin miner that recently pivoted to pursue a treasury strategy tied to Ether, the world's second-largest cryptocurrency. Wood's Ark Investment Management purchased around 4.77 million of BitMine shares on July 21 across three funds, valued at $182 million, via a block trade done through the firm's at-the-market stock issuance program. Proceeds from the sale will be used to buy Ether, BitMine said in a statement.

Hindustan Times
10-07-2025
- Business
- Hindustan Times
Ark Investment Management chief Cathie Wood sells $47.9 million of crypto stock
Cathie Wood, chief of Ark Investment Management, sold $47.9 million of a crypto stock over the past week after it surged 37% over the past month, as per The Street. Cathie Wood, CEO of Ark Invest, speaks during an interview.(Reuters) 2025 has been a year of highs and lows for Wood. Her investments saw good rallies when Trump was to take over as POTUS earlier this year. Given that Trump's relationship with Elon Musk was blossoming at the time, Wood's bets on Tesla, her biggest, rallied. But when the Trump-Musk relationship fell out, starting around March-April 2025, and tech stocks faced a slump, Wood's investments also suffered. As of July 3, the flagship Ark Innovation ETF (ARKK) is 23.4% year-to-date, taking over the S&P 500's 6.8% gain. Investment strategy Woods' primary strategy for buying shares has always been to target emerging tech companies in sectors like artificial intelligence, blockchain, biomedical technology and robotics. These companies, according to her, have the potential to reshape entire industries altogether. However, their volatility still poses higher risks of fluctuations in Ark's funds' values. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," Wood said in a letter published to her investors in late April where she tried to allay fears of the economy slipping into a recession in 2026. According to ETF research firm VettaFi, Ark Innovation ETF witnessed $2.1 billion in net outflows over the past 12 months through July 3 and $43 million has exited the fund in the past five days. Also read: Bitcoin price today: Why BTC is going up and is this an all-time high? Sale of crypto stock Wood's ARK funds sold 137,075 shares worth $47.9 million from June 30 to July 2. Despite this sale, the company still ranks second in Ark Innovation ETF's holdings. The company recently launched its new payment service called Coinbase Payments, which allows 24/7 USD Coin (USDC) transactions. The platform has garnered interest from retailers like Amazon and Walmart and is currently already in use by Shopify. By Stuti Gupta
Yahoo
07-07-2025
- Business
- Yahoo
Cathie Wood sells $47.9 million of surging crypto stock
Cathie Wood sells $47.9 million of surging crypto stock originally appeared on TheStreet. Cathie Wood, chief of Ark Investment Management, often adjusts her top holdings, buying more stocks when prices dip and selling as they rise. In the past week, she sold a stock that has surged 37% over the past month. The first half of 2025 has been a rollercoaster for Wood's funds, moving from deep slumps to impressive rallies. 💰💸 💰💸 In January and February, the Ark funds rallied as investors bet on the Trump administration's potential deregulation that could benefit Wood's tech bets. But the momentum faded in March and April, with the funds trailing the market as top holdings — especially Tesla, her biggest position — slid amid growing concerns over the macroeconomy and trade policies. Now, the fund is regaining momentum. As of July 3, the flagship Ark Innovation ETF () is 23.4% year-to-date, far outpacing the S&P 500's 6.8% gain. Wood's remarkable return of 153% in 2020 helped build her reputation and attract loyal investors. Her strategy can lead to sharp gains during bull markets but also painful losses, like in 2022, when ARKK dropped more than 60%. As of July 3, Ark Innovation ETF, with $5.5 billion under management, has delivered a five-year annualized return of negative 0.56%. The S&P 500 has an annualized return of 16.69% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. According to Wood, these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood has been bullish on the market. In a letter to investors published in late April, she dismissed predictions of a recession dragging into 2026 and struck an optimistic tone for tech stocks. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. But not all investors echo this optimism. Over the past 12 months through July 3, the Ark Innovation ETF saw $2.1 billion in net outflows, with $43 million exiting the fund in the past five days, according to ETF research firm VettaFi. From June 30 to July 2, Wood's Ark funds sold 137,075 shares of Coinbase Global Inc. () . That chunk of stocks is worth roughly $47.9 million. Coinbase runs the biggest crypto exchange in the U.S. and generates revenue through transaction fees from cryptocurrency trading on its platform. Despite Wood's recent sales, Coinbase remains the second-largest holding in the ARK Innovation ETF, accounting for 8.4% of the stock closed at $355.80 on July 3, up 37.4% over the past month, lifted by a wave of optimism around crypto regulation, product expansion, and investor interest in Bitcoin. One of the key drivers was the U.S. Senate's passage of the GENIUS Act, a bill that outlines clearer rules for stablecoins. The legislation could help ease uncertainty around crypto compliance and pushed Coinbase stock sharply higher in mid-June. Coinbase's rally also gained momentum as it launched its new payment service, Coinbase Payments, which allows 24/7 USD Coin (USDC) transactions. The platform is already being used by Shopify and has attracted interest from major retailers like Amazon and Walmart. Bernstein analysts called Coinbase 'the most misunderstood company' and raised their price target to $510 from $310, according to a research note published in late June. "The bear thesis on Coinbase has not played out," Bernstein analysts said, adding that "Coinbase's market share has been persistent despite new competition." The broader crypto rally has further supported Coinbase's recent gains. Trump's tariff policy led to Bitcoin's price falling to about $75,000 on Apr. 9 until he withdrew some of those hikes. The cryptocurrency soon bounced back and hit a new all-time high of $111,970 on May 22. Though Bitcoin's price fell below $99,000 on June 22 during the U.S.-Israel-Iran conflict, it quickly recovered above $105,000 on June 24. At the time of writing, Bitcoin was trading at $108,585. Wood recently highlighted Bitcoin's resilience amid recent crises. "Bitcoin really held its own," she said during ARK's "In The Know" show on July 3. "I think that's a very, very positive thing." Fund manager buys and sells TheStreet Stocks & Markets Podcast #8: Common Sense Investing With David Miller Veteran fund manager reboots Palantir stock price target Cathie Wood sells $9.5 million of popular AI stocks after big rally Wood has long been an advocate for Bitcoin. She has previously forecast that the cryptocurrency's price could top $1.5 million, and now she reaffirms her stance. 'We are still in a bull market for Bitcoin,' she said during the show, adding that Bitcoin has been 'threatening new highs' and acting more like a risk-off asset. She also noticed that more people are willing to hold Bitcoin and gold, 'especially during the market tremor.'Cathie Wood sells $47.9 million of surging crypto stock first appeared on TheStreet on Jul 7, 2025 This story was originally reported by TheStreet on Jul 7, 2025, where it first appeared. 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