Cathie Wood’s Bold Crypto Play: Sells High, Buys Low in Ethereum-Linked Stocks
Source Tradingkey
TradingKey – On Monday, July 28 (U.S. Eastern Time), Cathie Wood’s Ark Invest executed a dramatic portfolio shift:
- Sold $12.62 million worth of Robinhood (HOOD) shares
- Sold $6.9 million in Coinbase (COIN) stock
- Simultaneously invested over $20 million to increase holdings in Bitmine Immersion Technologies (BMNR)
This move is being hailed as a textbook example of “sell high, buy low” in the crypto equity space.
Selling at the Peak
On July 18, both Robinhood and Coinbase hit record highs:
- Coinbase surged to $444, its highest ever
- Robinhood peaked at $113, also a historic high
Since then, both stocks have pulled back:
- Coinbase: down 14%
- Robinhood: down 6% Yet both remain elevated compared to earlier levels.
Robinhood Price Chart – Source: TradingView
Doubling Down on Ethereum Exposure
Ark’s reinvestment into Bitmine Immersion (BMNR) signals a strategic pivot toward Ethereum-linked assets.
- Bitmine is currently the largest ETH-holding public company, with over 560,000 ETH in its treasury
- In late June, BMNR stock skyrocketed from $12 to $160 — a 1,200% rally
- However, it has since corrected to $35, presenting what Ark sees as a deep value opportunity
Bitmine Immersion Price Chart – Source: TradingView
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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