Cathie Wood's ARK Invest has restructured its ETFs, selling shares of Coinbase and Roblox to acquire a stake in Ethereum treasury firm Bitmine, led by Tom Lee. Wood’s ARK Innovation ETF, Next Generation Internet ETF, and Fintech Innovation ETF collectively sold 218,986 Coinbase shares valued at $90.5 million and 463,293 Roblox shares worth $57.7 million. The funds then acquired approximately 4.4 million shares of Bitmine for around $174 million, now representing 1.5% of each fund's portfolio. This move follows Bitmine’s substantial growth after its pivot from Bitcoin to Ethereum, seeing its stock soar over 3,000% recently, though it has since stabilized somewhat. The ARK funds continue to maintain significant investments in technology companies, such as Tesla, while also diversifying with shares in companies like AMD and DoorDash. Cathie Wood’s strategy emphasizes investments in disruptive innovation and reflects a broader shift within ARK's portfolios towards Ethereum-related opportunities.

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