Ark Invest Goes Full Crypto on Coinbase and Robinhood – And Still Makes a Profit! 🙃

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Ah, Cathie Wood’s Ark Invest—always keeping us on our toes. In a move that would make even the most seasoned portfolio manager raise an eyebrow, the firm has decided to rejig its financial portfolio. And what better way to do that than by unloading shares from some of the crypto world’s finest? Yes, we’re talking about the holy trinity of crypto-linked financial giants: Coinbase, Block Inc., and Robinhood. Who needs those when you can have… well, anything else?

This strategic move comes just as the crypto market is on one of its infamous rallies. And lo and behold, the stocks of those very companies Ark is ditching are also riding high—because why wouldn’t they? It’s like selling an antique at an auction and then watching its value skyrocket on eBay. 🙄

Coinbase and Robinhood Shares Jump by Over 4%

On Thursday, Cathie Wood’s ARK Innovation ETF (ARKK)—which, let’s be honest, sounds like it could be a ship in a futuristic sci-fi novel—sold off a whopping 16,627 Coinbase shares. Meanwhile, 58,504 Robinhood shares and 24,780 Block Inc. shares also found new homes. Total damage? About $1.7 million, which is basically pocket change for a firm that spends more on coffee than most of us do on rent.

The breakdown of Ark’s crypto divestment: Coinbase’s shares, worth $6.5 million, took a pleasant little 4% stroll upwards. Robinhood’s stock wasn’t far behind, jumping 4.4% to settle at a tidy $98.7 per share. Block Inc., on the other hand, was just sitting there like that kid who didn’t get invited to the cool kids’ party, with a slight dip of 0.36%. Oops. 🙃

Meanwhile, Bitcoin‘s price is behaving like it just got a brand new Tesla. At the time of writing, it was trading at a mind-blowing $118,371.29, having gained 6.59% in just 24 hours. That’s right, folks—Bitcoin is living its best life, cruising into unknown price territories like a well-dressed man at a wedding reception who just got his first dance with the bride.

Ethereum, too, wasn’t going to be left out of the limelight. ETH decided to pump up its value by a solid 8.3%, reaching $3,007.28. If you’ve ever wondered what it feels like to have a successful altcoin, just ask ETH. It’s like being the underdog and then winning the lottery.

But don’t forget—Ark Invest isn’t done yet. Just three weeks ago, they sold a sizeable chunk of their Circle (CRCL) shares. Yes, the same Circle that had everyone in the crypto world holding their breath during its IPO. Ark had dropped a casual $373 million on Circle’s NYSE debut. Not a bad way to start the day, right?

Ark Invest Offloads Circle Shares Post-IPO

A few days after the Circle purchase, Ark unloaded 196,367 shares from ARKK, 92,310 from ARK Next Generation Internet ETF (ARKW), and 53,981 from ARK Fintech Innovation ETF (ARKF). Total sale? A cool $51.8 million. You know, just in case they needed to buy more coffee.

Now, if you’ve been paying attention (and I sincerely hope you have), analysts are saying that the Bitcoin rally is being powered by some very heavy whales from Binance. Yes, the whales. Apparently, these players aren’t just in it for a quick buck—they’re in it for a whole new era of Bitcoin prosperity. One that could push Bitcoin’s price even higher. Because, of course, what could possibly go wrong when the deep-pocketed players decide it’s time to pump up the crypto market again? 🤔

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2025-07-11 19:48