Ark Invest trims Bitmine, buys Coinbase, Circle, SpaceX
Ark Invest sold about $4.4 million of crypto stocks Wednesday, including 120,665 Bitmine shares; it trimmed Robinhood, Block and Bullish and bought about $43.5M of Coinbase and Circle and $14.5M of SpaceX.
Cathie Wood’s Ark Invest disclosed Wednesday that it sold roughly $4.4 million in crypto-related equities and purchased shares in other companies across its exchange-traded funds. The firm trimmed positions in Bitmine Immersion Technologies, Robinhood, Block and Bullish and made new purchases of SpaceX, Coinbase and Circle.
Ark’s daily filing shows the largest sale was 120,665 Bitmine shares, about $2 million in value. The filing lists sales of 13,403 Block shares valued near $1.1 million, 12,561 Robinhood shares worth roughly $1.1 million, and 11,314 Bullish shares at about $247,000. Bitmine closed the session down about 5.6%, and the other three names finished lower on Wednesday.
The disclosure also records purchases. Ark bought roughly $14.5 million of SpaceX stock across several of its ETFs on Wednesday. Over the prior three trading days the firm acquired about $43.5 million of Coinbase and Circle shares, including roughly $18.6 million of Coinbase and $12.9 million of Circle.
The trading came amid weakness in crypto-linked equities and a decline in digital-asset prices. Robinhood reported second-quarter results this week that exceeded expectations overall while its crypto revenue fell nearly 40% year over year as trading activity slowed.
Ark Invest routinely files daily ETF trades. The sales and purchases reported Wednesday are part of a series of rapid adjustments the firm has made across its funds in recent sessions.
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