ARK Invest Rebalances: Sells Bitcoin ETF, Buys Coinbase Shares

Cathie Wood’s ARK Invest is adjusting its crypto-focused portfolio in response to recent U.S. economic shifts. The firm has sold off a chunk of its Bitcoin ETF holdings while significantly increasing its stake in Coinbase.

Trading data reviewed by Cointelegraph shows that ARK purchased $26.6 million in Coinbase (COIN) shares after the announcement of new U.S. trade tariffs on April 2. These acquisitions include $13.2 million worth of COIN on April 7 and $13.3 million more on April 4.

Meanwhile, ARK divested $12 million worth of its ARK 21Shares Bitcoin ETF (ARKB) on April 7, which had launched earlier in January 2024 as one of the first U.S. spot Bitcoin ETFs. The sale came from ARK’s Next Generation Internet ETF (ARKW), representing one of ARK’s biggest single-day ARKB sell-offs.

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ARKW Maintains Strong Bitcoin Exposure

Despite the sale, ARKW still provides strong exposure to Bitcoin (BTC: $84,977) via its Bitcoin ETF Holdco, which remains its largest single position by market value. As of April 8, ARKW holds $142 million in ARKB, accounting for 11% of the fund’s weight, per ARK’s official data.

The $12 million dump follows a pattern of consistent ARKB trimming: $8 million sold in March, $8.6 million in February, and another $3.5 million across two sales in January.

Market Selloff Impacts Bitcoin ETFs

The trades occurred during a broader crypto selloff sparked by Trump’s tariff announcement, with BTC dropping 11% to a low of $74,700, according to CoinGecko.

Bitcoin ETFs have been hit hard. According to SoSoValue, global Bitcoin ETPs saw $207 million in outflows last week, followed by $109 million more on April 7 alone. In total, the last three trading days recorded $273 million in ETF outflows.

Still, ARK Invest remains one of the few Bitcoin ETF providers in net positive territory for 2025. As of April 4, ARK had $146 million in inflows, based on CoinShares data. For comparison, BlackRock’s iShares recorded $3.2 billion, while ProShares attracted $398 million.

Despite market turbulence, ARK’s strategy highlights a shift from direct Bitcoin exposure to crypto-adjacent equities like Coinbase—potentially signaling confidence in the broader crypto ecosystem over the short term.