Ark Invest sells $64M in crypto holdings amid market surge

Ark Invest unloaded roughly $64 million worth of crypto-related holdings on Monday, selling shares across Coinbase, Circle, Bitmine, Bullish, and its own Bitcoin ETF product, ARKB. The move came while digital asset markets were rallying, consistent with Cathie Wood’s well-documented playbook of buying weakness and selling strength. What Ark actually sold The trades spanned five crypto-adjacent names. Coinbase, the largest US crypto exchange, was among the positions trimmed. So was Circle, the company behind the USDC stablecoin, and Bitmine, a Bitcoin mining operation. Bullish, the exchange backed by Peter Thiel and other high-profile investors, also saw its Ark allocation reduced. Ark also sold shares of ARKB, its own spot Bitcoin ETF, to manage how much Bitcoin exposure each fund carries relative to its other holdings. The combined $64 million figure sounds dramatic. But context matters. Ark’s crypto-related holdings across its flagship ETFs, ARKK, ARKW, and ARKF, have historically run into the hundreds of millions. Its Coinbase position alone has been valued at roughly $609 million. Circle holdings have sat around $323 million, Bitmine at approximately $275 million, and Bullish n...