ARK Invest Offloads $65M in Crypto Ahead of CLARITY Act Vote
Cathie Wood's investment firm ARK Invest made significant moves in the crypto market ahead of a key regulatory vote. On September 14, ARK disposed of approximately $65 million across five crypto ecosystem assets.
The largest outflow came from the ARK 21Shares Bitcoin ETF (ARKB), with the sale of 1,528,953 shares valued at nearly $40 million. This was just hours before a decisive vote on Capitol Hill regarding the CLARITY Act.
Portfolio trimming also extended to publicly traded corporate equities in the digital asset space. In Coinbase Global Inc. (COIN), ARK liquidated 36,628 shares for approximately $7 million. The firm also sold 142,350 shares of Circle Internet Group (CRCL) totaling nearly $13.8 million.
The sale included smaller stakes in Bitmine Immersion Technologies and cryptocurrency exchange Bullish. According to a market report, internal management bylaws at ARK Invest enforce a strict 10% portfolio weighting cap per individual asset. Analysis suggests the executed orders reflect technical rebalancing driven by profit-taking rather than a structural shift in the manager's long-term conviction.