ARK Invest Shifts $32M from Tesla to Ethereum: Cathie Wood Doubles Down on Crypto Bet

Cathie Wood's ARK Invest just made a bold move—dumping $32 million in Tesla shares to scoop up BitMine Ethereum Treasury exposure. The pivot signals growing institutional conviction in ETH's long-term value proposition.

Why this matters: While Wall Street obsesses over quarterly earnings, crypto-native investors are playing a different game. ARK's latest trade reveals where the smart money sees real asymmetric upside.

The cynical take: Traditional finance still can't decide if crypto is an asset class or a scam—meanwhile, the forward-thinking funds are quietly building positions. Remember when they laughed at Bitcoin at $5,000?

TLDR

• Cathie Wood’s ARK Invest sold 71,638 Tesla shares worth approximately $31.94 million on November 7, 2025, continuing a trend of reducing its Tesla position
• ARK purchased 48,454 shares of BitMine Immersion Technologies valued at around $2 million across three ETFs, following BitMine’s shift to an Ethereum treasury strategy
• BitMine stock rose 7.65% after ARK’s investment and is up 415% year-to-date, though the company faces $2.1 billion in unrealized losses on its Ether holdings
• ARK made a large purchase of 316,072 shares in Trade Desk Inc worth $14.51 million, showing increased interest in digital advertising
• The firm also bought 238,000 shares of Bullish crypto exchange worth approximately $12 million ahead of its November 19 earnings report

Cathie Wood’s ARK Invest executed a major portfolio shift on November 7, 2025, selling 71,638 shares of Tesla Inc valued at $31.94 million. The sale continues ARK’s recent pattern of reducing its Tesla holdings after maintaining the electric vehicle maker as a top position since 2018.

The firm redirected capital into BitMine Immersion Technologies, purchasing 48,454 shares worth approximately $2 million. The purchases occurred across three ETFs: ARK Next Generation Internet ETF, ARK Innovation ETF, and ARK Fintech Innovation ETF.

Bitmine Immersion Technologies, Inc., BMNR

BitMine has transformed into an ethereum treasury company, officially launching its strategy on June 30, 2025. The company now holds nearly 3.4 million ETH and purchased over 565,000 ETH in the past month alone.

Cathie Wood and Ark Invest bought 240,507 shares of Bitmine $BMNR today

167,348 shares in $ARKK
48,361 shares in $ARKW
24,798 shares in $ARKF pic.twitter.com/9fFDC4GvxY

— Treasury Edge (@TreasuryEdge) November 7, 2025

BitMine Stock Surges After ARK Investment

Following ARK’s investment announcement, BitMine shares jumped 7.65% to reach $40.23 in after-hours trading. The stock has climbed 415% since the start of 2025.

However, BitMine faces challenges with its crypto holdings. Data from CryptoQuant shows the company has approximately $2.1 billion in unrealized losses on its Ether positions due to recent declines in digital asset values.

ARK has been steadily increasing its BitMine stake since April 2025. This timing coincided with BitMine’s expected transition to its Ethereum treasury model.

The Tesla sale occurred after shareholders approved a compensation package for CEO Elon Musk. About 75% of voting shares supported the proposal despite objections from major proxy advisors ISS and Glass Lewis.

The package consists of 12 stock tranches tied to performance targets ranging from a $2 trillion market cap to $8.5 trillion. Musk announced plans to increase his company stake from 13% to 25%.

Trade Desk and Bullish Purchases Show Sector Diversification

ARK made its largest single purchase of the day in Trade Desk Inc, acquiring 316,072 shares valued at $14.51 million. The buy signals growing interest in the digital advertising sector.

The firm also purchased 238,000 shares of Bullish crypto exchange worth roughly $12 million. The purchases were split across multiple funds, with ARK Innovation ETF buying 164,214 shares.

Bullish will report third-quarter earnings on November 19. The exchange posted $57 million in adjusted revenue during Q2 2025, down from $67 million in Q2 2024.

Net income for Bullish reached $108.3 million in Q2 2025. This marked a turnaround from a $116.4 million net loss in the same quarter of 2024.

ARK has accumulated approximately $172 million worth of Bullish shares since the exchange went public on the New York Stock Exchange at a $1.1 billion valuation. The firm continues adding to this position through regular purchases.

Wood’s firm also increased its biotech holdings by purchasing 1,046,699 shares of Intellia Therapeutics worth $12.90 million. Additional buys included $4.28 million in BEAM Therapeutics and $4 million in Twist Bioscience.

On the sell side, ARK disposed of 236,749 GitLab shares for $10.79 million and 84,988 Roku shares for $8.91 million. The firm sold 20,277 Natera shares for $4.02 million and 26,479 Iridium Communications shares for $447,495.