Ark Invest Offloads $4.4M in Crypto Equities, Rotates Capital Into SpaceX

Cathie Wood’s investment firm Ark Invest trimmed its holdings in several fintech and crypto-adjacent equities on Wednesday, liquidating approximately $4.4 million in shares as digital asset markets faced renewed downward pressure. The disposals were counterbalanced by a sizable $14.5 million capital injection into private space exploration enterprise SpaceX across several exchange-traded funds.

According to Ark Invest’s daily trading disclosures, the firm’s largest divestment was in Ethereum treasury operator Bitmine Immersion Technologies, selling 120,665 shares valued at roughly $2 million. The sale coincided with a 5.6% single-day decline in Bitmine shares.

Ark Invest also lightened positions across three other major trading platforms and financial technology providers that finished Wednesday’s trading session in negative territory. The firm unloaded 13,403 shares of Block worth about $1.1 million, 12,561 shares of Robinhood valued at around $1.1 million, and 11,314 shares of institutional exchange operator Bullish valued at approximately $247,000.

The portfolio trimming comes immediately after a significant capital deployment into major crypto infrastructure assets. Over the three trading sessions leading up to Wednesday, Ark accumulated roughly $43.5 million worth of shares in Coinbase and Circle. That aggressive buying included approximately $18.6 million allocated to Coinbase stock and $12.9 million directed to Circle stock.

The shift in asset allocation underscores broader momentum shifts across digital asset equities. While Robinhood reported second-quarter financial results that surpassed Wall Street consensus estimates for overall earnings, its cryptocurrency trading revenue plummeted nearly 40% year-over-year amid dampening retail trading activity.