Cathie Wood sells $47.9 million of a surging crypto stock, but remains optimistic about tech stocks.

Cathie Wood, Chief of Ark Investment Management, sold $47.9 million of a surging crypto stock that has risen 37% over the past month. Her funds saw a rollercoaster ride in the first half of 2025, rallying in January and February but faltering in March and April due to market concerns.

Despite recent sales, the Ark Innovation ETF, managed by Wood, is up 23.4% year-to-date, outperforming the S&P 500. Wood’s investment strategy focuses on high-tech companies in AI, blockchain, biotech, and robotics, leading to volatility in the Ark funds’ values.

Wood remains optimistic about tech stocks, predicting a shift towards innovation platforms. However, the Ark Innovation ETF saw $2.1 billion in net outflows over the past year, with recent sales of Coinbase stock worth $47.9 million.

Coinbase, the largest US crypto exchange, experienced a rally due to optimism around crypto regulation, product expansion, and the passing of the GENIUS Act. Bernstein analysts raised their price target for Coinbase, citing market share persistence and misunderstanding of the company.

Bitcoin’s price fluctuations were influenced by political events, including Trump’s tariff policy and the U.S.-Israel-Iran conflict. Wood praises Bitcoin’s resilience, stating it acts more like a risk-off asset. She also reaffirms her bullish stance on Bitcoin, predicting it could reach $1.5 million.

Read more at Yahoo Finance: Cathie Wood sells $47.9 million of surging crypto stock