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Cathie Wood's Ark Invest Sells $12M of Coinbase Shares Amid Diversification Push
ByAinvest
Friday, Jul 25, 2025 3:31 am ET1min read
Ark Invest, led by Cathie Wood, sold $12 million worth of Coinbase shares on Thursday, continuing its trend of taking profit from its investment. The firm has been selling Coinbase shares and diversifying into other crypto plays, including a $116 million investment in Bitmine Immersion Technologies, an ether treasury firm. Ark also sold shares of Robinhood, Block Inc, and its own bitcoin ETF.
ARK Invest, led by Cathie Wood, sold $12 million worth of Coinbase shares on Thursday, continuing its trend of taking profit from its investment in the crypto exchange. The firm has been selling Coinbase shares and diversifying into other crypto plays, including a significant investment in Bitmine Immersion Technologies, an ether treasury firm. Additionally, Ark sold shares of Robinhood, Block Inc., and its own bitcoin ETF.The investment firm sold a total of 30,501 COIN shares from its two funds, worth $12.1 million based on Coinbase's last close. It also sold 11,262 of Robinhood (HOOD) shares, worth around $1.1 million. Ark Invest also offloaded 123,169 shares of Block Inc. (XYZ), worth around $10 million, and 28,906 shares of its own Bitcoin ETF (ARKB), worth around $1.1 million.
The strategic sell-off comes as Ark Invest has been focusing on diversifying its portfolio. Last week, the firm invested $116 million in Bitmine Immersion Technologies (BMNR), a Peter Thiel-backed ether treasury firm. The investment reflects Ark's growing interest in Ethereum (ETH) and its long-term potential.
The move also reflects a broader trend in the crypto market, where institutional investors are increasingly showing interest in Ethereum. The investment in Bitmine Immersion Technologies is part of this trend, with the firm aiming to acquire 5% of the circulating ETH supply.
ARK Invest's strategic realignment also includes a significant purchase of Tesla Inc. (TSLA) shares across multiple ETFs, with the total value of the transaction amounting to approximately $43.7 million. This move follows Tesla's recent financial results and the company's continued focus on electric vehicle (EV) production.
The strategic sell-offs and new investments highlight Ark Invest's approach to managing its portfolio, focusing on both profit-taking and diversification. The firm's actions reflect a nuanced understanding of the market and a commitment to long-term investment strategies.
References:
[1] https://www.coindesk.com/business/2025/07/25/ark-invest-dumps-usd12m-coinbase-shares-after-loading-up-on-ether-treasury-firm-bitmine
[2] https://coinmarketcap.com/headlines/news/ark-invest-dumps-usd12m-coinbase-shares-after-loading-up-on-ether-treasury-firm-bitmine/
[3] https://finance.yahoo.com/news/cathie-wood-joins-crypto-heavyweights-172941956.html
[4] https://www.benzinga.com/news/25/07/46621957/cathie-wood-pounces-on-tesla-dip-ark-snaps-up-43-7-million-in-ev-stock-while-ditching-crypto-shares-amid-bitcoin-frenzy
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