Ethereum News Today: ARK's Strategic Pivot: Crypto and Biotech Now Drive Growth Amid Tech Trims

ARK Invest's Cathie Wood continues to reshape her firm's portfolio, offloading $30 million in Tesla stock while adding shares of Ethereum-focused treasury firm BitMine, signaling a strategic pivot toward crypto and biotech sectors, according to a TradingView report. The move comes as Wood adjusts her Bitcoin price forecast and amid broader market shifts in tech and digital assets.

On November 7, 2025, ARK Invest sold 71,638 Tesla shares, valued at approximately $30.9 million, marking a continuation of its recent trend of trimming its stake in the electric vehicle giant, according to the TradingView report. This follows shareholder approval of Elon Musk's controversial $1 trillion pay package, which tied his compensation to ambitious milestones, including a $8.5 trillion Tesla market cap and 20 million vehicle sales, as detailed in a Newstalk ZB article. Meanwhile, ARK's ARK Innovation ETF (ARKK) and other funds added 48,454 shares of BitMine, a company that has amassed over 3.39 million Ethereum (ETH) tokens—representing 2.8% of the cryptocurrency's circulating supply, according to a CoinMarketCap article. BitMine's Ethereum holdings, now valued at $14.2 billion, reflect its strategy to accumulate the asset during market dips, as reported in a BeInCrypto report.

Wood's strategic reallocation mirrors broader portfolio shifts. ARK's recent trades include selling positions in tech firms like Roku and Teradyne while increasing exposure to biotech stocks such as CRISPR Therapeutics and Beam Therapeutics, with over $17 million allocated to gene-editing companies, according to a Parameter report. The firm also purchased 665,690 shares of Veracyte, a diagnostics company, for $22.8 million, just days before the stock surged 16% on strong earnings, as noted in an IBTimes article. These moves underscore ARK's focus on sectors with near-term growth visibility, such as genomic innovation and digital assets.

In a notable adjustment, Wood lowered her Bitcoin price target from $1.5 million to $1.2 million by 2030, attributing the shift to the rapid expansion of stablecoins, which now hold a $306 billion market cap—outpacing Bitcoin's growth since 2020, according to a Bitget report. Despite this, Wood remains bullish on Bitcoin's long-term role as "digital gold," even as stablecoins erode its short-term dominance in payments and savings.

BitMine's recent $365 million registered direct offering further highlights institutional confidence in Ethereum's future. The offering, priced at a 14% premium, aims to fund additional ETH acquisitions, the CoinMarketCap article noted. This aligns with growing adoption of Ethereum-based financial products, including stablecoin infrastructure and decentralized applications.

Market reactions to these moves have been mixed. Tesla's stock fell 3.68% on November 7, pushing Musk's net worth down $10 billion amid shareholder concerns over his expanded control, the TradingView report said. Conversely, BitMine's shares rose 7.65% in after-hours trading, reflecting optimism about its Ethereum treasury strategy, per the TradingView coverage. Meanwhile, Ethereum whales have accumulated $1.37 billion in ETH during November's 12% price drop, indicating strong conviction among large investors, the BeInCrypto report observed.

ARK's portfolio adjustments highlight the firm's contrarian approach, balancing risk between volatile tech stocks and high-growth sectors like biotech and crypto. As Wood navigates a shifting market landscape, her bets on Ethereum and gene-editing technologies could shape investor sentiment in the coming months.