ARK extends Coinbase selling streak with another $22M sale, adds Bullish

ARK Invest, the fund management company led by Cathie Wood, continued its strategic portfolio rebalancing this week by selling off a substantial holding of Coinbase Global (COIN) stock. The transaction involved the sale of approximately $22 million worth of COIN shares, primarily across the flagship ARK Innovation ETF (ARKK) and the ARK Next Generation Internet ETF (ARKW). This latest move extends a consistent selling streak observed over the past few trading sessions, suggesting that ARK is capitalizing on COIN’s recent rally to reduce exposure and lock in gains.

Simultaneously, ARK demonstrated continued confidence in the broader digital asset and fintech ecosystem by deploying the capital into new positions. The firm utilized the proceeds from the Coinbase divestment to make a bullish purchase of shares in Robinhood Markets (HOOD). This rotation highlights ARK’s strategy of actively managing risk within the crypto space, moving capital from centralized exchange platforms, which have seen significant valuation increases, toward platforms focused on decentralized infrastructure and broader retail financial access. Analysts note that this move aligns with ARK’s stated goal of maintaining exposure to high-growth disruptive technologies while actively managing concentration risk.

Source: ARK extends Coinbase selling streak with another $22M sale, adds Bullish