Ark Invest Dumps $13M in Coinbase (COIN) and Robinhood (HOOD) – Bullish Signal for Crypto?
Cathie Wood's Ark Invest just made a $13 million exit from two fintech darlings. Here's why crypto maximalists are grinning.
### The Great Unloading
Ark's latest 13F filing shows decisive cuts to its Coinbase and Robinhood positions. The move comes as both platforms face regulatory headwinds—but savvy traders see this as classic 'weak hands' behavior before the next crypto surge.
### Paper Hands or Strategic Play?
While traditional finance pundits will spin this as bearish, remember: Ark famously sold Tesla before its historic rally. The $13M sale represents just 0.2% of Ark's $6.5B crypto-related holdings. A rounding error for a fund that still holds 5.3M COIN shares.
### The Cynic's Corner
Wall Street's latest 'smart money' move? Selling the companies actually building the future to buy back overpriced legacy stocks. Meanwhile, Bitcoin's hash rate just hit another ATH—but sure, focus on those brokerage stocks.
A Strategic Shift
The latest sales continue ARK’s recent trend of reducing exchange exposure. Just days before the sell-off, ARK bought nearly $116 million worth of shares in BitMine Immersion. The firm, backed by investor Peter Thiel, focuses on Ethereum treasury solutions. This shows ARK is shifting its interest from exchange platforms to firms building tools on top of blockchain networks.
In June, ARK sold 33,363 Coinbase shares, worth about $12.5 million. Despite that, Coinbase remained the biggest holding in its main fund, ARKK, making up nearly 10% of the fund’s value.
Earlier that month, the firm bought 4,198 shares of Coinbase for about $1.3 million over 319,000 Robinhood shares for around $24.4 million. These moves were believed to be part of a broader strategy tied to the changing crypto market and stablecoin performance.
The latest decision to sell shows that ARK may be rebalancing its exposure. Instead of holding large positions in popular crypto exchanges, the firm seems to be moving toward projects linked to Ethereum infrastructure and blockchain finance.
Market Implications
Market analysts believe this shift could be a sign that ARK is focusing on long-term growth tied to Ethereum rather than just trading volumes on crypto platforms. Some say it may also be linked to growing pressure from U.S. regulators on exchange firms.
The sales took place across ARK’s different funds, including ARKK, ARKW, and ARKF. These daily trade updates are made public and help give insight into how ARK moves its money across the tech and finance space.
So far, ARK Invest, Coinbase, and Robinhood have not made any official statements about the trades. The full details come from public trade records and financial market sources.
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