ARK Invest Sells Big on Crypto, Then Reverses Course on CoreWeave
Cathie Wood's ARK Invest funds made significant changes to their portfolio this week, including selling over 1.5 million shares of the ARKB Bitcoin ETF.
The firm's crypto exposure was not limited to the ARKB ETF, as they also sold shares in Coinbase Global, Circle Internet Group, Bitmine Immersion Technologies, and Bullish.
However, ARK Invest reversed course on Thursday by buying 239,083 shares of CoreWeave, more than tripling their previous sale of 64,923 shares.
The decision to buy back into CoreWeave came after the company announced new compute contracts and a private offering of convertible senior notes.
ARK Invest also made smaller moves elsewhere in their portfolio, including buying AeroVironment across multiple funds and adding to Meta Platforms in ARKW.