Ark Invest Rotates $43.5M from Crypto Stocks to Coinbase and Circle

Cathie Wood's Ark Invest has made significant moves in its daily trade disclosures, rotating $43.5M into Coinbase and Circle while trimming positions in Bitmine Immersion Technologies, Bullish, and Block.

The firm, which manages over $16Bn in assets, offloaded about $4.4M in crypto equities on Wednesday, led by a $2M cut to Ethereum treasury firm Bitmine as its stock price fell 5.6%. Ark also sold shares of Robinhood and Block.

In contrast, the investment firm deployed nearly $18.6M into Coinbase and about $12.9M into Circle over a three-day period as both stocks declined alongside Bitcoin and softened expectations for U.S. crypto legislation.