Ark Invest Trims Crypto Holdings While Loading Up on SpaceX Stock

Cathie Wood's Ark Invest made several adjustments to its portfolio on Wednesday, selling off about $4.4 million worth of shares in crypto-related companies while adding nearly $14.5 million worth of SpaceX stock.

The firm sold a total of 120,665 shares of Bitmine Immersion Technologies at around $2 million, marking the largest sale among its holdings. Ark also trimmed positions in Robinhood, Block, and Bullish, selling off 13,403 shares of Block for about $1.1 million, 12,561 shares of Robinhood for roughly $1.1 million, and 11,314 shares of Bullish valued at around $247,000.

The sales come on the heels of recent purchases of Coinbase and Circle Holdings stock, with Ark buying approximately $43.5 million worth over the previous three trading days. The firm's latest buys included about $18.6 million in Coinbase shares and $12.9 million in Circle stock.