Ark Invest’s Bold Move: Cathie Wood Offloads $6.5M in Coinbase & $5.8M in Robinhood as Bitcoin Soars

Cathie Wood's Ark Invest makes strategic exits during crypto surge—because even bulls take profits.

While retail traders FOMO into Bitcoin's rally, Ark quietly cashes out $12.3M worth of crypto-adjacent stocks. Classic 'sell the news' play—or just Wall Street doing what it does best?

Coinbase and Robinhood shares hit the chopping block as BTC flirts with new highs. Because nothing says 'contrarian indicator' like a Cathie Wood trade.

Coinbase and Robinhood Stocks Rise as Bitcoin Hits $118K

The rally in Coinbase and Robinhood stocks came amid bitcoin reaching new all-time highs, hitting $118,080 early Friday — up 6.4% in 24 hours. ethereum also jumped 8.5% to $3,011.

Coinbase recently announced a partnership with Perplexity AI, an AI-driven search engine, to launch a real-time crypto data service.

The MOVE represents a growing trend of collaboration between blockchain firms and artificial intelligence companies.

Meanwhile, Robinhood is engaged in discussions with European regulators regarding its tokenization initiative, which aims to offer blockchain-based stock tokens.

BREAKING:

Ark Invest just trimmed its crypto-related holdings!

Amidst a booming crypto market, Cathie Wood's firm sold $6.5M in Coinbase ($COIN) & $5.8M in Robinhood ($HOOD) shares.

Are they taking profits or rebalancing?

However, Robinhood faces scrutiny in the U.S., as Florida’s attorney general opened an investigation into the company’s crypto division over claims it marketed itself as the “least expensive way to purchase crypto.”

So far, ARK is the only major Circle investor to significantly reduce exposure post-IPO.

As reported, ARK Invest begun cashing in on its stake in stablecoin issuer Circle just 11 days after the company’s debut on the New York Stock Exchange.

The firm sold 342,658 shares of Circle (CRCL) on June 16 and another $44.7 million worth on June 17, according to trade disclosures.

Other backers, including BlackRock, reportedly eyeing a 10% stake in the company, have not disclosed any sales.

Executives at Circle, however, have sold portions of their holdings. CEO Jeremy Allaire, co-founder Sean Neville, and CFO Jeremy Fox-Geen were listed in the prospectus as planning to sell 8%, 11%, and 11% of their holdings, respectively.

Bitcoin and Ethereum ETFs Drive Record Inflows

Bitcoin spot ETFs recorded their second-largest daily inflow of $1.18 billion on July 10, driving Bitcoin’s price to a new high of $116,664 before briefly surpassing $118,450.

The cumulative net inflows into Bitcoin spot ETFs have now exceeded $51 billion, underscoring strong and sustained institutional demand.

Seven out of 12 bitcoin funds reported net inflows on the same day, with BlackRock’s IBIT leading at $448.49 million and Fidelity’s FBTC following closely with $324.34 million.

Ethereum spot ETFs also posted significant inflows, totaling $383 million, marking their second-highest daily record. Ether ETFs have accumulated $5.10 billion in total net inflows so far. E

Crypto analyst Rachael Lucas described this trend as a “defining moment” in the institutional adoption of both Bitcoin and Ethereum.

She emphasized that the influx of capital is driven by asset managers, corporate treasuries, and wealth platforms, not retail speculation, signaling a more mature and sustained phase of crypto investment.