While Ark Invest owner Cathie Wood is beloved by some and reviled by others, one thing is for sure -- whatever she does in the world of finance gets plenty of attention.
Recently Wood has leaned hard into Tesla (TSLA) stock, for reasons that are fairly obvious. Elon Musk's EV company continues to drum up high interest as the adoption of electric vehicles keeps on growing.
DON'T MISS: Billionaire Takes Shot at Cathie Wood, Those Who Promote Her
Another sector Wood has been bullish on is crypto -- despite major collapses in 2022 that sent many investors running for the hills in a panic.
Now she's pushing further, raising more than $16 million for a new crypto fund, per new filings with the U.S. Securities and Exchange Commission on March 15.
Nine investors put in a total of $7,281,630, raised by The ARK Crypto Revolutions U.S. Fund LLC. The additional eight million was raised by the ARK Crypto Revolutions Cayman Fund LLC. Both funds are private and open to a limited number of investors.
Receive full access to real-time market analysis along with stock, commodities, and options trading recommendations. Sign up for Real Money Pro now.
In other moves this week very much in line with the creation of her new fund, Wood also picked up another 119,429 shares of Coinbase (COIN), the largest cryptocurrency exchange in the U.S., while letting go of 95,836 shares of cloud communication company Twilio (TWLO) (more in depth on these moves in our weekly Cathie Wood Watch series).
In the meantime, Wood continues to be vocal on Twitter, openly supporting U.S. House Majority Whip Rep. Tom Emmer after he tweeted that he sent a letter to FDIC Chairman Gruen to highlight reports that the agency is "weaponizing recent instability in the banking sector" to take aggressive action against legal crypto activity in the U.S.
