Ark Invest Sells $12M in Coinbase Shares Amid Crypto Portfolio Shift

Ark Invest, led by renowned investor Cathie Wood, sold $12 million worth of Coinbase (COIN) shares on Thursday, continuing its profit-taking strategy on the cryptocurrency exchange. The firm has been actively rebalancing its crypto portfolio, moving capital toward other digital asset opportunities.

The latest sale included 30,501 COIN shares across two Ark funds. Additionally, the firm sold 11,262 shares of Robinhood (HOOD), valued at approximately $1.1 million based on the brokerage’s most recent closing price. Ark also divested 123,169 shares of Jack Dorsey’s Block Inc. (XYZ), worth about $10 million, and 28,906 shares of its own Bitcoin ETF (ARKB), valued at roughly $1.1 million.

This portfolio adjustment follows Ark Invest’s recent $116 million investment into Bitmine Immersion Technologies (BMNR), an ether (ETH) treasury platform backed by Peter Thiel. The move underscores Wood’s strategy of diversifying exposure within the crypto sector while capitalizing on gains from high-performing stocks like Coinbase.

Ark Invest has been a prominent early backer of Coinbase since its public listing and frequently adjusts its holdings in response to market trends and valuation changes. The firm’s recent activity signals a broader repositioning toward alternative crypto plays amid ongoing volatility in digital asset markets.

Investors closely watch Ark’s trades for insights into emerging opportunities within the cryptocurrency and fintech space, particularly given Wood’s reputation for high-conviction bets on disruptive technologies.