Cathie Wood trims crypto and adds Netflix stake
Cathie Wood sold $2.57 million worth of crypto-linked stocks, reducing exposure to the sector while rotating into other equities.
ARK Invest offloaded 11,465 shares of Circle Internet Group worth $1.21 million and 31,417 shares of Bullish valued at $1.36 million.
Circle, issuer of the USDC stablecoin, has faced criticism and a class-action lawsuit tied to its response to a recent DeFi exploit, while Bullish shares rose 5% despite broader market volatility.
Wood redirected capital into Netflix, purchasing $2.54 million in shares after the stock fell nearly 10% despite reporting $12.25 billion in revenue and $5.28 billion in profit.
She also bought $11.96 million worth of Alamar Biosciences, a newly listed firm that surged 33% on its Nasdaq debut.
The move signals a tactical shift away from crypto equities toward beaten-down growth stocks and newly listed companies.
The portfolio rebalancing comes amid mixed sentiment in crypto markets and ongoing scrutiny around stablecoin issuers and DeFi risks.
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