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Cathy Wood reduces her position in Ethereum on its 11th anniversary

2026-08-01 00:34:20

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Cathy Wood, CEO of Ark Investment, was one of the first investors to get involved in cryptocurrencies.

She once revealed that Ark Investment was the first public asset management company to deploy Bitcoin (BTC) in 2015. At that time, the value of this cryptocurrency was even less than US$500.

Today, the asset manager continues to maintain exposure to Ethereum (ETH) by holding shares in Bitmine Immersion Technologies (NYSE: BMNR). BMNR is the leading Ethereum money management company, chaired by Wall Street veteran Tom Lee.

Ethereum has a market value of US$225 billion and is the second largest cryptocurrency after Bitcoin. The network was launched on July 30, 2015, and just celebrated its 11th anniversary yesterday.

Although Ethereum has fallen 37% this year, it has risen 16% in the past month. BMNR shares, a proxy for Ethereum, have also fallen 38% this year, but have risen 25% in the past month.

However, Ark Investment decided to reduce its Ethereum exposure on the occasion of the 11th anniversary of the Ethereum Network, selling 33,560 shares of BMNR stock worth US$606,764 on July 30. It is worth noting that the asset manager once described Bitmine's Ethereum money management strategy as an "exponential opportunity" for 2026.

As of press time, BMNR shares were trading at $16.78 and Ethereum was trading at $1,856.27.

The asset manager also sold 12,745 shares of Bullish (NYSE: BLSH) cryptocurrency exchange shares backed by Peter Thiel, valued at $287,909. The stock was trading at $20.99 at press time, down 44% this year.

Ark Investment bought Meta shares after its second-quarter earnings fell short of expectations

On the same day, after Mark Zuckerberg's technology company announced its second-quarter 2026 earnings report on July 29, Ark Investment purchased 26,509 shares of Meta Platforms (NASDAQ: META) shares worth US$14.3 million.

Although Meta's revenue of US$60.8 billion exceeded expectations of US$60.2 billion, its earnings per share (EPS) were US$6.18, below expectations of US$7.14.

On the earnings conference call, Zuckerberg said the company has an ambitious artificial intelligence plan: "We see large opportunities for sales to enterprises, including APIs, commercial agents, possible direct sales of computing power, and other services we are building for large customers."

Although META shares have fallen 16% this year, they have risen 2.5% in the past month. As of press time, its trading price was $551.30.

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