ARK Invest Buys BitMine, Sells Tesla Shares: Shift to Digital Assets

Cathie Wood’s ARK Invest has taken a significant step in its investment strategy by purchasing $9.2 million worth of shares in BitMine Immersion Technologies. Simultaneously, they sold $30 million in Tesla stock to rebalance their portfolio towards an increased focus on Ethereum-related investments. This strategic shift signals growing institutional interest in the digital asset landscape and could potentially influence market dynamics amidst volatility.