Cathie Wood sells Coinbase, Roblox shares for Tom Lee’s ETH firm

Key Points

1. ARK Invest sold 218,986 Coinbase shares worth $90.5 million and 463,293 Roblox shares worth $57.7 million across its ARK Innovation, Next Generation Internet, and Fintech Innovation ETFs.

2. The firm purchased 4.4 million shares of Bitmine Immersion Technologies (BMNR) worth $174 million, now making up 1.5% of each ETF's portfolio.

3. Bitmine's stock surged over 3,000% to an all-time high of $135 after announcing a shift from Bitcoin to Ethereum, though it has since cooled to $39.57.

4. Billionaire Peter Thiel acquired a 9.1% stake in Bitmine last week.

5. The ARKF fintech-themed fund has minor Ethereum exposure, with 1.15% allocated to the 3IQ Ether Staking ETF.