Cathie Wood sells crypto stocks at the top to load up on unusual bet originally appeared on TheStreet.

Cathie Wood’s Ark Invest has trimmed its holdings in several high-profile crypto stocks — including Coinbase (COIN) and Robinhood (HOOD) — while making a bold move into an unexpected asset,  an Ether-focused treasury firm backed by Peter Thiel.

On July 24, Ark sold 30,501 shares of Coinbase worth roughly $12 million, continuing a trend of profit-taking on one of the most closely watched crypto equities. The firm also dumped 11,262 shares of Robinhood, totaling around $1.1 million, based on the stock’s closing price that day.

At the same time, Ark increased exposure to Bitmine Immersion Technologies (BMNR), an…