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Cathie Wood’s ARK Invest has increased its exposure to Tom Lee’s Ether-focused treasury firm BitMine, while scaling back its long-standing position in Tesla, according to the firm’s latest trading disclosures.On Friday, ARK purchased a total of 48,454 shares of BitMine, valued at approximately $2 million, across three of its exchange-traded funds: the ARK Innovation <a href="https://hash.media/hashdesk/sec-sets-final-deadline-for-grayscales-spot-hbar-etf/" rel="noopener noreferrer nofollow">ETF</a> (ARKK), the ARK Fintech Innovation ETF (ARKF), and the ARK Next Generation Internet ETF (ARKW). The move reflects Wood’s growing confidence in companies leveraging digital assets, such as Ether (ETH), as part of their treasury strategies.BitMine’s decision earlier this year to accumulate Ether as a core reserve asset has significantly boosted investor interest.&nbsp;The company’s stock rose 7.65% on Friday to $40.23 in after-hours trading, marking a 415% surge year-to-date, according to Google Finance. Analysts view ARK’s continued investment as a sign of institutional confidence in crypto-backed corporate treasuries.At the same time, ARK Invest trimmed its exposure to Tesla, selling roughly 71,638 shares worth about $30 million, based on Tesla’s closing price of $429.52. The ARKK and ARKW ETFs both reduced their Tesla holdings, a notable shift given that Tesla has been one of ARK’s flagship positions since 2018.Tesla shares fell 3.68% on the day, following shareholder approval of CEO Elon Musk’s nearly $1 trillion compensation package at the company’s annual meeting in Austin, Texas.&nbsp;The package, supported by 75% of voting shares, could increase Musk’s ownership from 13% to 25% if Tesla meets specific market capitalization milestones ranging from $2 trillion to $8.5 trillion.The twin moves highlight ARK’s evolving strategy, doubling down on blockchain-linked innovation while taking profits in legacy growth holdings like Tesla amid shifting market conditions.pay3 (pay3.so) is a crypto payment platform that replaces wallet addresses with usernames. Accept USDT, USDC, ETH, and BNB through one simple link: pay3.so/@yourname

Cathie Wood’s ARK Invest Buys BitMine, Cuts Tesla Stake

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