Cathie Wood Bets Big on Crypto While Cutting Air‑Taxi Shares

Cathie Wood, the chief of ARK Invest, shuffled her ETF holdings on June 5. She added more shares of Circle Internet Group and Coinbase Global, both key players in the cryptocurrency space, even as Bitcoin slid sharply that week. At the same time she trimmed her stake in Archer Aviation, an electric air‑taxi maker. The crypto market was rough. Bitcoin fell over 16 % in the week, dipping below $60, 000 for the first time since last October. The token’s yearly decline is close to 30 %, reflecting worries about regulation, higher Treasury yields and money leaving spot Bitcoin ETFs. Wood’s biggest purchase was Circle. She bought 100, 250 shares through ARKK for about $9 million. The stock had dropped 11 % that day, but analysts still see a moderate buy rating with an average target of $146. That suggests more than 80 % upside from the current price.Next, she increased her Coinbase position. A purchase of 13, 065 shares cost roughly $2 million. The share price fell about 7 % on Friday, yet Wall Street keeps a moderate buy stance with an average target of $236—nearly 55 % potential gain. In contrast, Wood sold over a million shares of Archer Aviation across three ARK ETFs. The total sale was about $8 million, following an earlier exit of 468, 000 shares for $3 million. Archer shares fell 13 % that day and are down about 26 % year‑to‑date, yet analysts remain bullish on the company’s future. Comparing the three names shows that Archer has the highest upside estimate, over 120 %, followed by Circle at about 82 % and Coinbase near 55 %. Despite the recent weakness, Wood appears to trust the long‑term prospects of these tech firms more than the short‑term market swings.