Cathie Wood’s ARK Invest has sold roughly $30 million worth of Tesla stock while purchasing about $2 million in shares of BitMine across its exchange-traded funds. The move signals a continued shift in ARK’s strategy toward blockchain and digital asset infrastructure as traditional EV exposure is trimmed.
BitMine has gained over 400% this year, benefiting from rising investor interest in crypto-mining and decentralized computing plays. The new allocation reflects ARK’s growing conviction in the digital asset ecosystem and its long-term belief that blockchain technology will underpin the next wave of financial innovation.
Meanwhile, Tesla’s reduced weighting indicates a more cautious outlook on valuation and capital dilution risks, even as the automaker expands its AI and robotics initiatives.