Cathie Wood's Ark Invest Dumps Meta, Nvidia and Bitcoin ETF Shares in Major Tech Sell-Off
Ark Invest sold substantial holdings in major tech and crypto-related stocks on Thursday, including approximately $41 million in Meta, $26 million in Nvidia, $2.5 million in Alphabet (Google's parent), and $7.5 million in Advanced Micro Devices. The firm also reduced its crypto exposure, selling about $11 million in its own spot Bitcoin ETF (ARKB), $6.5 million in crypto exchange Bullish, and nearly $5 million in Block, Jack Dorsey’s Bitcoin-focused company. These sales came as Meta and Nvidia shares continued recent declines—Meta is down over 17% in the past month, including a 10% drop in the last week after losing addiction-related lawsuits, while Nvidia slipped around 5% amid geopolitical tensions and a class action suit. Bitcoin itself has dropped roughly 4.8% in the last day to about $66,020, and Bullish is down nearly 44% over six months. Despite Cathie Wood’s continued bullish outlook on Bitcoin’s long-term value, ARKB is now ARK Invest’s 35th largest ETF holding.
