Ark Invest Rotates $43.5M into Coinbase and Circle Amid Crypto Volatility

Cathie Wood's Ark Invest has been rotating its portfolio, deploying $43.5M into Coinbase and Circle as it trimmed positions in Bitmine Immersion Technologies, Bullish, and Block.

The firm's daily trade disclosures show that over a three-day period, Ark purchased 122,544 shares of Coinbase valued at nearly $18.6M and 169,777 shares of Circle worth about $12.9M.

Ark sold shares of Bitmine, Bullish, and Block, companies it had aggressively accumulated during earlier drawdowns.

The move is seen as a rotation rather than a retreat from crypto equities, according to the firm's daily trade disclosures.

Circle's outlook hinges on stablecoin adoption and regulatory clarity, while Coinbase's value is tied to exchange revenues and crypto-related valuations.