The Latest Breaking News from Cathie Wood

Wood thinks Bitcoin holds the potential to attain a valuation of $1 million per unit at some point in the future, albeit not in the immediate term.

ARK Invest executed a strategic reallocation of its assets on Tuesday, divesting some of its holdings in ProShares Bitcoin Strategy ETF (BITO).

The Securities and Exchange Commission approved 11 applications to create a spot Bitcoin ETF Wednesday.

But, along with the SEC's approval is Gensler's statement outrightly distancing himself from Bitcoin and the broader cryptocurrency industry, which did not fall right on the ears of high-profile individuals in the industry, particularly of ARK Invest's Wood.

Executives from leading firms suggested a potential approval announcement Wednesday, indicating that trading might start as soon as Thursday.

ARK Innovation (ARKK), spearheaded by Cathie Wood's ARK Invest, continues to prosper owing to its robust market outperformance, strategic Tesla (TSLA) additions, upbeat analyst sentiment, and optimism for a bitcoin ETF. Among all of this, let's see if ARKK might be a wise investment. Read on….

ARK Invest purchased over 105,000 shares of Tesla while simultaneously selling off COIN shares worth over $25 million Wednesday.

GM and Ford need to scale their EV operations to make them profitable, she said. Tesla will benefit if they don't.

Last week, it was reported that the SEC met with hopeful spot Bitcoin ETF issuers to iron out details of their filings and inform them of a deadline for submitting amended proposals on Dec. 29.

Half of the proceeds from ARK Invest's GBTC sale, approximately worth $100 million, were used to purchase the BITO Bitcoin Futures ETF.

Wood's ARK Invest is collaborating with 21Shares on Bitcoin and Ethereum Futures ETF products and its ARK 21 Shares Bitcoin ETF is among the first proposal subject to SEC's final decision on Jan. 10.