Cathie Wood’s Crypto Gamble: šŸ¤Æ Madness?

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Ah, Cathie Wood… a name whispered with a curious blend of hope and, shall we say, bewildered fascination. The woman, you see, is *adjusting*. Tweaking. Like a tormented soul rearranging the furniture in a room already consumed by shadows. She’s shifting the innards of her ARK empire, abandoning the fleeting affections of Coinbase and Robloxā€”those shimmering, ephemeral distractionsā€”to embraceā€¦ Ethereum. And who leads this Ethereum-fueled endeavor? None other than Tom Lee, a figure whose pronouncements on the market are often regarded with the same cautious skepticism one reserves for street fortune tellers. Is this brilliance? Or merely a desperate flailing against the inevitable tide of market absurdity? šŸ§

The figures, of course, are presented with an almost clinical detachment, as if to mask the sheer *drama* of it all. 218,986 Coinbase shares, vanishing into the ether for a paltry $90.5 million. A mere trifle for a woman who once dreamt of conquering the digital frontier! And Roblox? 463,293 sharesā€¦ discarded like a childā€™s broken toy. $57.7 million down the drain, or perhaps, reinvested in a grander, moreā€¦ perplexing scheme.

But the real revelation, the true spectacle, lies in the embrace of Bitmine Immersion Technologies ā€“ a name that sounds suspiciously like a science fiction novel penned by a particularly melancholic author. 4.4 million shares, gobbling up $174 million, suddenly constituting a rather significant 1.5% of each ETFā€™s portfolio. A considerable gamble, wouldnā€™t you agree? A leap of faithā€¦ or a plunge into the abyss? She’s even letting go of Robinhood and Block Inc. for thisā€¦ Bitmine. A truly perplexing swap.

Latest to pivot to Ethereum

And so, the descent into the world of Ether continues. Bitmine, upon announcing its intentions to abandon the cold, hard logic of Bitcoin for theā€¦ *spirituality* of Ethereum, experienced a rather vulgar surge in value. 3,000%! Can you imagine the sheer delirium? It briefly touched $135, only to cool down to a more reasonable, yet still inflated, $39.57. Peter Thiel, naturally, seized the opportunity, acquiring a 9.1% stake. Because even billionaires, it seems, are susceptible to the allure of a good bubble. šŸ’ø

The ARKK fund, a vessel carrying $6.8 billion in hopes and anxieties, remains stubbornly fixated on Tesla ā€“ 9.7% of its holdings. Coinbase and Roblox linger, ghosts of former ambitions. And a small but significant portion is dedicated to Circle, the issuer of thoseā€¦ stablecoins. Stable, you say? In this world? A rather optimistic term, wouldnā€™t you think?

ARKW, with its $2 billion, displays a similar penchant for the familiar: Robinhood, Coinbase, Tesla. A trinity of technological obsession. A smattering of Meta, Shopify, and Amazon thrown in for good measure, like crumbs to appease the digital gods.

And then, the final, almost mournful act: the offloading of 225,742 shares of the ARK 21Shares Bitcoin ETF. A farewell, perhaps? A renunciation? Or simply a tactical repositioning in this unending game of financial chess?

Fintech fund has minor ETH exposure

ARKF, the fintech-themed fund, with its $1.2 billion, clings to Shopify, Robinhood, and Coinbase. It possesses a faint, almost apologetic exposure to Ethereum, amounting to a mere 1.15% through the 3IQ Ether Staking ETF. A hesitant toe dipped into the swirling currents of the digital sea. Perhaps it senses the undertowā€¦ šŸ¤”

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2025-07-22 09:49