Cathie Wood's Ark Invest Reduces Exposure to Crypto-Linked Holding Bitmine

Cathie Wood's investment firm, Ark Invest, has been actively rebalancing its high-conviction positions in various cryptocurrencies. This includes a reduction in Bitmine (NYSE:BMNR), which is part of one of the largest corporate Ethereum treasury strategies.

Ark Invest has been known to trim winning positions as they appreciate, keeping portfolio weightings within target ranges. The firm's ETFs frequently rebalance their crypto exposure rather than making outright directional calls.

The reduction in Bitmine is notable because Ark has been a strong supporter of Ethereum and its treasury strategy. Despite this, market sentiment remained resilient, with BMNR surging almost 10% on Thursday.