From Nasdaq:

Cathie Wood and Ark Invest have sold most of their Nvidia shares, cashing in on the AI stock to seed investments in less-overheated growth stock. They now hold Nvidia shares worth $81 million. Their largest investment is in cryptocurrency marketplace Coinbase Global with a $911 million footprint, making up 6.8% of their overall assets. Wood sees enduring growth opportunities in the cryptocurrency space and believes Coinbase holds a strategic edge as a leading infrastructure player. Wood has reduced Ark’s Coinbase holdings by half since 2023.

Wood has high expectations for Bitcoin, with a 2030 price target of $1.48 million per token. She believes the economy is going digital and sees Coinbase as a key player in the mainstream adoption of cryptocurrencies. Despite her bullish approach, Ark has reduced their Coinbase holdings by about half since 2023. Wood is also spreading her cryptocurrency exposure across different asset classes.

Before investing in Coinbase Global, consider this: The Motley Fool Stock Advisor team recently identified what they believe are the 10 best stocks for investors – and Coinbase Global wasn’t one of them. The Stock Advisor service has more than tripled the return of the S&P 500 since 2002. Analyst Anders Bylund has positions in Bitcoin, Coinbase Global, Grayscale Bitcoin Trust, and Nvidia. The Motley Fool has positions in and recommends Bitcoin, Coinbase Global, Nvidia, and Tesla. The author’s views and opinions are their own and do not necessarily reflect those of Nasdaq, Inc.



Read more: Cathie Wood’s Largest Holding Isn’t Tesla or Nvidia. It’s This Tech Pioneer.