Ark Invest Trims Crypto Holdings Amid Market Weakness

Cathie Wood's Ark Invest has made significant changes to its portfolio, selling off nearly $4.4 million worth of shares in several crypto-related companies while investing heavily in others.

The firm sold approximately $2 million worth of Bitmine Immersion Technologies stock, the largest sale among the four companies affected by this move. It also shed 13,403 shares of Block valued at about $1.1 million and 12,561 shares of Robinhood worth roughly $1.1 million.

However, Ark Invest has been aggressively buying into Coinbase and Circle Holdings in recent days. Over the past three trading sessions, it acquired approximately $43.5 million worth of these stocks, including $18.6 million in Coinbase shares and $12.9 million in Circle stock.