Ark Invest Trims Holdings in Coinbase and Robinhood as Crypto Surges
Cathie Wood’s Ark Invest just sold off chunks of its Coinbase and Robinhood stakes—worth about $12.3 million combined—while crypto prices were riding high this week. The moves came as bitcoin smashed records, briefly touching $118,080, and ether jumped over 8% to cross $3,000.
The firm’s ARK Innovation ETF (ARKK) unloaded 16,627 Coinbase shares (around $6.5 million) and 58,504 Robinhood shares (roughly $5.8 million). They also ditched some Block Inc. stock, pulling in another $1.7 million. Not huge sums for Ark, but enough to make you wonder. Profit-taking? Maybe. Or just shuffling the deck while the market’s hot.
Coinbase and Robinhood’s stocks didn’t seem to mind much—both closed up about 4% on Thursday. Block dipped slightly, but barely a blip.
Why Sell Now?
Timing’s interesting here. Crypto’s been on a tear, and these stocks often move with it. But Ark’s been known to tweak its bets even during rallies. Could be they’re locking in gains, or maybe they see something else coming. Wood’s team has made big calls before (remember Tesla?), so it’s worth watching.
Then again, it might not mean much. Ark trades actively, and this sale isn’t a huge chunk of their overall position. Still, when a firm like this trims holdings, people notice.
What’s New with Coinbase and Robinhood?
Coinbase’s been busy. They just teamed up with Perplexity AI—a search engine that uses artificial intelligence—to roll out real-time crypto data. Odd pairing? Maybe. But both are players in their fields, so it could stick.
Robinhood, meanwhile, is poking around Europe. They’re talking to regulators about tokenizing stocks—basically turning shares into blockchain tokens. If it works, users might trade tokenized versions of Apple or Tesla without owning the actual stock. Risky? Sure. But Robinhood’s never shied away from that.
Bigger Picture
Ark’s sales might just be routine. Or they could hint at caution as crypto swings wildly. Institutional investors don’t always ride the wave—sometimes they step back when things get frothy.
Then again, Wood’s long been bullish on crypto and the tech around it. So unless Ark keeps selling, this could just be a blip. Either way, it’s a reminder that even the biggest believers cash chips sometimes.
*Not advice, just context. Prices move fast—don’t bet the farm.
