Bitcoin News Today: Ark Invest Sells $13.3 Million in Coinbase Shares Amid Portfolio Rebalancing

On July 15, Ark Invest, a prominent investment firm led by Cathie Wood, sold 34,207 shares of Coinbase (COIN) valued at approximately $13.3 million through its Next Generation Internet ETF (ARKW). This move came just a day after Coinbase’s stock reached its highest closing price, prompting the firm to rebalance its portfolio to manage risk effectively.

In addition to the Coinbase sale, Ark Invest also sold about $8.7 million of its own Bitcoin (BTC) Exchange-Traded Fund (ETF) (ARKB). This sale was timed as Coinbase stock closed at $394.01 on Monday, increasing its market capitalization past $100 billion for the day. These sales were part of a larger effort to maintain a balanced fund by ensuring no single asset makes up more than 10% of the total portfolio. This careful approach protects investment from heavily influencing the ETF’s performance, which helps lower the risk of volatility.

This is not the first time Ark Invest has offloaded shares from major fintech firms. On June 26, the company sold over $24 million worth of shares from Coinbase Global Inc. and Block Inc. through Ark’s flagship ETF, the Ark Innovation ETF (ARKK). The company also sold 189,649 shares of Block Inc., a financial company led by Jack Dorsey. In a similar move, Ark Invest sold 609,175 Circle (CRCL) shares across three of its ETFs, securing $146.2 million. Despite the heavy selling, ARK remains among the top shareholders of major tech firms.

In another significant move, Ark Invest acquired 210,714 shares of Robinhood (HOOD) for almost $10 million. This purchase follows Robinhood’s impressive earnings report for the first quarter of 2025, which exceeded expectations. The company’s better-than-expected earnings indicate that it is gaining popularity as the economy stabilizes and more individual investors become involved.

Furthermore, the ARKK fund bought 186,812 shares of Guardant Health for $9.1 million. Similarly, the fund purchased shares in Advanced Micro Devices and 10X Genomics. It is worth noting that Ark’s purchase indicates its belief that Robinhood will be valuable in the long run. Meanwhile, Ark Invest has increased its target for Bitcoin to a staggering $2.4 million by 2030.

Cathie Wood, CEO of Ark Invest, is known for her forward-thinking investment strategies, particularly in disruptive technologies such as digital assets and fintech. ARK’s recent moves also underscore the firm’s adaptability in these rapidly evolving sectors. The firm is strategically shifting its portfolio to capitalize on future gains as cryptocurrency price trends continue to shape the market. In April 2024, the firm added OpenAI shares to its venture fund, maintaining diversification within its ETFs.