Ark Invest Buys the Dip in Nvidia While Cashing Out of Block and Bullish

Cathie Wood’s firm put $16.2 million into Nvidia on Monday, a day the chipmaker lost 4.27% and settled at $178.67. The slide came after Nvidia confirmed its board is examining CEO Jensen Huang’s ties to a woman that US intelligence officials reportedly linked to Chinese spying. A New York Times story had described a memo passed around Washington last spring claiming Alice Huang was recruited by China’s Ministry of State Security. Ark chose to add anyway.

Selling Into Strength at Block and Bullish

The trades in crypto related names ran the other way. Ark let go of 68,997 Block shares worth $6.1 million after the stock gained 3.6% to $88.56. It also sold 49,767 Bullish shares, roughly $1.1 million, as that stock jumped 7% to $22.80.

Ark 21Shares Bitcoin ETF Sees Outflows

Ark also trimmed $1.6 million of its own bitcoin fund, which manages $2.15 billion. The fund lost $9.9 million on Monday, part of the $201.1 million that left all US spot bitcoin ETFs.

SoFi Technologies Gets a $6.8 Million Boost

The company ended September with 503,000 crypto products, and gross crypto transaction revenue reached $161.6 million, up 20% on the quarter. In October it introduced SoFi Earn, a tokenized deposit that pays interest and is billed as a first for a US national bank serving individuals.