Cathie Wood’s $23M Crypto Stock Bet: ARK Invest Pivots to BMNR, BLSH While Trimming Roku, DraftKings & Teradyne

Cathie Wood just placed a massive $23 million wager on crypto's future—and it's not going where Wall Street expected.

The ARK Invest CEO doubled down on blockchain infrastructure plays BMNR and BLSH this week while cutting exposure to consumer-facing names. Roku, DraftKings, and Teradyne all saw positions reduced as Wood reshuffles her innovation portfolio.

Why the pivot? Crypto's institutional adoption isn't slowing down—it's accelerating. Traditional finance might still be scratching their heads over digital assets, but Wood's betting the house on the picks and shovels of the next financial revolution.

Meanwhile, legacy analysts are still trying to value Bitcoin using discounted cash flow models. Good luck with that.

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Wood Boosts Crypto Exposure

The largest trade of the day was in BMNR, an Ethereum-focused mining company that has become one of ARK’s top bets. The ARK Innovation ETF (ARKK) bought 323,186 shares worth $10.8 million, the ARK Next Generation Internet ETF (ARKW) added 104,244 shares for $3.5 million, and the ARK Fintech Innovation ETF (ARKF) picked up 50,068 shares valued at $2 million. In total, ARK funds acquired 477,498 shares of BMNR worth nearly $16.3 million, adding to recent buys and showing Wood’s belief in Bitmine’s role in Ethereum.

ARK also disclosed a fresh buy in Bullish, the newly listed crypto exchange. Across its ETFs, ARK purchased about $7.2 million worth of BLSH shares. The buy shows Wood’s push to widen ARK’s exposure to digital assets beyond mining and staking.

On Friday, BMNR shares slipped 1.17%, while BLSH shares were down 1.53%.

Wood Trims Stakes in ROKU, DKNG and TER

On the selling side, ARK continues to trim its stake in Roku. The ARKK ETF sold 104,713 shares worth $6.4 million, the ARKW ETF sold 47,512 shares for $2.9 million, and the ARKF ETF cut 29,144 shares valued at $1.7 million. In total, the funds unloaded about 181,000 shares of Roku worth $11 million. Roku still remains one of the largest holdings across ARK’s combined portfolios.

Similarly, Wood continued to cut back her exposure to DraftKings, shedding 109,431 shares for a total value of $5.8 million.

Another adjustment came in Teradyne, where the ARKK ETF sold 85,214 shares valued at roughly $5.7 million. The MOVE adds to Wood’s recent pattern of trimming exposure to semiconductor testing companies as she reallocates capital toward higher-conviction growth themes.

Let’s take a brief look at how all these stocks perform on TipRanks’ Stock Comparison Tool: