Cathie Wood's Ark Invest Dumps Coinbase Shares Amid Bitcoin Crash

Ark Invest, the steadfast of noted tech capitalist Cathie Wood, sold much than $19 cardinal successful shares of crypto speech Coinbase (COIN) connected Thursday—just days aft buying much COIN—as Bitcoin’s terms fell rapidly to a bottommost of astir $60,000.

The steadfast sold 119,236 shares of COIN crossed 3 of its actively managed ETFs arsenic shares of COIN fell to their lowest terms since past March. Shares successful the American crypto speech person present fallen astir 48% implicit the past six months, contempt a leap of astir 9% connected Friday to alteration hands astir $159.13. 

The COIN merchantability comes conscionable days aft Wood’s steadfast had added to its Coinbase position, according to information from Cathie’s Ark. Coinbase represents Ark Invest’s seventh-largest investment, presently valued astir $425 cardinal worth, crossed its assorted ETFs.

While it reduced its presumption successful the exchange, the steadfast besides added to different positions of crypto-related equities arsenic crypto prices fell, with Bitcoin dropping to a debased of $60,255 and ETH falling to $1,756.

Even with prices ticking backmost up Friday, BTC remains down astir 17% connected the week astatine a terms adjacent $69,000, with Ethereum showing a 27% dive implicit the past 7 days arsenic ETH sits conscionable nether $2,000.

Crypto Sentiment Sinks to Lowest Level successful 3.5 Years

Despite dumping COIN shares, Ark added much than 716,000 shares of crypto speech Bullish (BLSH) connected Thursday, present valued astatine much than $19 cardinal arsenic BLSH trades astir $27.00—up astir 8% a time aft crypto stocks plunged. Ark present maintains astir $138 cardinal worthy of shares successful Bullish, which reported Q4 losses of astir $536 cardinal connected Thursday.

Wood’s steadfast besides added to its stash of shares successful Brera Holdings (SLMT), besides known arsenic Solmate, a Solana treasury and infrastructure company. The addition, 150,000 shares—now valued astir $172,500—comes contempt the information that each large crypto treasury firms are present underwater connected their integer assets arsenic crypto prices, including Solana’s, fell heavy connected Thursday. 

Gold Is the Real Bubble, Says Ark Invest's Cathie Wood—Not AI

SOL, which has underperformed its large peers Bitcoin and Ethereum, has dropped 39% successful the past period and is present 71% disconnected its January 2025 all-time high, changing hands precocious astatine $84.01. 

Ark Invest’s Thursday acquisitions, which besides included shares successful Google genitor institution Alphabet (GOOG), travel amid broader concerns and macroeconomic uncertainty astir artificial quality (AI).

But Wood remains adamant that AI is not the bubble to fear, alternatively pointing to the emergence successful precious metals similar gold arsenic the existent markets bubble.