How Cathie Wood became one of crypto’s earliest believers (3:41)
Veteran investor Cathie Wood had remained relatively quiet in her trading activity around crypto-linked equities for these past few days.
After buying Robinhood Markets (Nasdaq: HOOD) stock worth $12.7 million on Apr. 7, she didn't demonstrate any interest in crypto stocks for a while.
In fact, she didn't trade any equities at all on two days this week, Apr. 14 and 15. But on the last trading day of the week, she sold shares of two crypto companies.
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Wood sells Circle and Bullish shares
On Apr. 17, Wood's ARK Invest sold shares of Circle Internet Group (NYSE: CRCL) and Bullish (NYSE: BLSH):
Circle: 11,465 shares worth $1.21 million
Bullish: 31,417 shares worth $1.36 million
Circle Internet Group is a crypto company popular for its USDC stablecoin. After Tether's USDT, Circle's USDC is the largest stablecoin with a market cap of $78.63 billion and accounts for nearly 25% share of the total stablecoin market.
The company has been facing criticism for taking no action to freeze USDC assets during the Drift Protocol exploit earlier this month and has been slapped with a class-action lawsuit filed by a group of affected users.
Circle's stock fell 1.44% to close at $105.91 on Apr. 17.
Backed by PayPal co-founder Peter Thiel, Bullish is a crypto trading exchange popular among institutional clients. The company's stock rose 5% to close at $43.51 on Apr. 17 as part of the broader market recovery due to optimism around peace in West Asia.
But Wood decided to sell the company's shares.
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Wood buys Netflix and Alamar shares
The same day, she bought shares of Netflix (Nasdaq: NFLX) and Alamar Biosciences (Nasdaq: ALMR).
Netflix: 26,161 shares worth $2.54 million
Alamar: 537,463 shares worth $11.96 million
For the first quarter of 2026, the streaming giant Netflix reported revenue of $12.25 billion and profit of $5.28 billion on Apr. 17. But since the company only barely topped expectations, the shares plummeted 9.72% to close at $97.31.
Alamar is a newly listed protein biomarker detection platform. Compared with the offer price of $17, the company's stock opened at $22.60 apiece on Apr. 17.
The Fremont, California-based Alamar fetched a $1.53 billion valuation after shares jumped 33% in their Nasdaq debut and Wood decided to buy a bulk.
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