Ark Invest, led by Cathie Wood, sold a chunk of its Robinhood shares. The sales come after the company posted strong earnings for the fourth quarter. Robinhood Markets saw its stock surge nearly 14% in early trading on Thursday,

Cathie Wood predicts Bitcoin could soar to $1.5 million, citing growing institutional adoption and the expanding role of digital assets.

Pizzo said the ARK Digital Asset Innovation Fund plans to raise $50 million, with a hard cap at $100 million when it closes. The fund is the first of its kind for Ark, which is legendary on Wall Street for its actively managed exchange-traded funds.

ARK Invest predicts Bitcoin could reach $1.5 million by 2030 in its bull case, with a worst-case scenario of $300,000.