Cathie Wood sold Tesla shares, BitMine investment increased.

Cathie Wood's New Investment Move

Cathie Wood's ARK Invest has attracted attention with a significant strategic change, reducing its position in Tesla and opting to invest in BitMine. This move has generated considerable buzz in the market and drawn investors' attention.

BitMine Investment Rapidly Increases

According to the transaction report published by ARK Invest on Friday, a total of 48,454 BitMine shares were purchased through the ARK Innovation ETF (ARKK), ARK Fintech Innovation ETF (ARKF), and ARK Next Generation Internet ETF (ARKW). This investment, valued at approximately $2 million, indicates that Wood has been increasing her investments in BitMine since she started accumulating Ethereum as a treasury asset in April.

Decline in Tesla Shares

On the other hand, ARK Invest has put a total of 71,638 Tesla shares up for sale across its funds. Based on Tesla's closing price of $429.52, the total value of this sale is approximately $30 million. Both the ARKK ETF and ARKW ETF have been continuously reducing their stake in Tesla since 2018.

Musk's Control Increases

Among these investment strategies, a notable detail is the approval of a compensation package that will enhance Tesla CEO Elon Musk's control over the company. Despite opposition from major consulting firms Glass Lewis and ISS, this decision was approved with the support of 75% of shareholders, increasing Musk's ownership stake from 13% to 25%.

In the short term, Cathie Wood's moves are attracting the attention of investors and are likely to have an impact on broader market movements.