Cathie Wood's Ark Invest Sells Bitmine While Adding to Coinbase and Circle Holdings
Ark Invest sold about $4.4 million of crypto-related stocks on Wednesday, reducing holdings in Bitmine Immersion Technologies, Block, Robinhood, and Bullish after their shares declined. The largest sale was Bitmine, with 120,665 shares worth about $2 million. Ark also sold about $1.1 million each of Block and Robinhood, plus about $247,000 of Bullish. At the same time, Ark bought roughly $14.5 million of SpaceX shares across several ETFs. The sales came after Ark had recently bought about $43.5 million of Coinbase and Circle over the prior three trading days. The moves reflect broader weakness in crypto-linked equities and digital assets. Robinhood also reported that crypto revenue fell nearly 40% year over year as trading activity slowed, despite beating earnings expectations.
