Ark Invest Shifts $12M from Coinbase to $47M Tesla Bet – Crypto Pivot or EV FOMO?

Cathie Wood's Ark Invest makes a bold move—dumping $12 million in Coinbase shares while doubling down on Tesla with a fresh $47 million position.

Is this a crypto cold shoulder or just another Wall Street flavor-of-the-month trade? Either way, someone's getting a yacht.

Over the past week, the firm has been actively reducing its COIN holdings. It reduced COIN holdings from ARKK and ARKW ETFs. On the market side, COIN looks like on a losing run as its price has dropped by more than 5% in the last 5 trading days. It closed trading at $396.7 on Thursday. The pre-market trading shows that COIN might be losing another 2%, dragging its price to $388 area.

Ark Invest goes big on Tesla

Ark has now poured $116 million into Bitmine Immersion Technologies (BMNR). The Peter Thiel-backed Ether (ETH) treasury firm has recorded some massive rallies. BMNR price ROSE by 855% over the last month to trade at $41.75. After-hours trading shows that the stock might gain another 4% when trading resumes.

The investment firm went long on Tesla, scooping 143,190 shares across ARKK, ARKQ, and ARKW. This accumulation came to around $47.6 million. Tesla remains a flagship holding for Wood, and this MOVE reaffirms Ark’s long-term bullish stance on Elon Musk. Cathie Wood has definitely bought the dip as TSLA price dropped by over 8% to drag it to the $305 area.

The buying spree didn’t stop here as Ark Invest added 471,024 shares of Iridium Communications (IRDM) (worth $15.3 million). Ark spread this purchase across ARKK, ARKQ, and ARKX. Iridium is a satellite tech player gaining traction among funds betting on space-based connectivity. Meanwhile, the investment firm exited positions in Roblox (RBLX), selling 93,460 shares worth $11.1 million.

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