Cathie Wood of Ark Invest is focusing on Ethereum treasury companies, moving away from Robinhood and Coinbase stocks. Ethereum saw a 24,000% increase in validators trying to unstake assets, with wait times extending to over eight days due to rising borrow rates. Wood’s strategy includes investing in Treasury companies like BitMine Immersion Technologies.

Ark Invest sold shares of Coinbase and Robinhood, reallocating funds into Ethereum-focused BitMine Immersion Technologies. Bitcoin continues to outperform silver, gold, and tech stocks, hitting an all-time high of $122,000. Robinhood launched a crypto deposit match program offering bonuses for net crypto transfers. Treasury companies like BitMine are gaining popularity among VCs and institutional investors.

BitMine holds over $1 billion in ETH, becoming one of the largest public holders of Ethereum. ETH has surged over 50% in the past month despite being below its 2021 all-time high. Wood’s move comes amid a broader trend of companies adding Ethereum to their balance sheets, mirroring the original Bitcoin-treasury play.

Read more at Yahoo Finance: Cathie Wood reveals strategy to outsmart Wall Street