Quick Takeaways
- ARK made $8.7 million from the sale of 225,742 shares of its Bitcoin ETF (ARKB).
- The sale happened just days after the ETF hit an all-time high post-stock split
- ARK also sold shares in Coinbase, Robinhood, and Block as part of broader rebalancing
Cathie Wood’s ARK Cuts Bitcoin ETF at Market Peak
A significant move was just made by Cathie Wood’s ARK Invest, which sold off a sizable portion of its Bitcoin ETF shortly after it hit a record high.
This timing isn’t a coincidence if you’ve been watching ETF trends or cryptocurrency markets.
Let’s examine what transpired, the reasons behind ARK’s sale, and the implications for the larger cryptocurrency investment market.
ARKB Reaches New High After Stock Split
Just a few weeks ago, ARK’s Bitcoin ETF (ARKB) underwent a 3-for-1 stock split.
That means every existing share was split into three, lowering the price per share from about $90 to around $30 without changing the total value of the investment.
Then, on July 6, ARKB peaked at $39.30 per share, which would be nearly $118 per share if the split hadn’t happened.
That’s the highest it’s ever been, and it seems ARK saw it as a perfect moment to cash in.
So, Why Did ARK Sell ARKB?
On Tuesday, ARK sold 225,742 shares of ARKB from its ARK Next Generation Internet ETF (ARKW).
At $38.70 per share, that adds up to about $8.7 million making it the biggest single-day ARKB share sale ARK has ever made.
But here’s the thing: this wasn’t the most money they’ve made in one day from ARKB.
Back in April, they sold fewer shares (around 159,000), but raked in $12 million thanks to higher prices.
So while this recent move is big in volume, it’s not quite the top-dollar sale.
But the most important thing is the timing. When a single holding gets too big, ARK is known to reduce its holdings, particularly in rapidly evolving industries like cryptocurrency.
Therefore, this seems more like prudent portfolio management than panic selling.
Coinbase, Robinhood, and Block Also Get Cut
It wasn’t just ARKB on the chopping block. ARK also made an additional $13.3 million by selling 34,207 Coinbase (COIN) shares.
Days prior to that transaction, they had sold off two additional batches of Coinbase stock, each valued at $2 million.
And they didn’t stop there:
- He sold 58,504 shares of Robinhood (HOD), priced at around $ 5.6 million
- Plus, 24,780 shares of Block (formerly Square) for around $1.7 million
Clearly, ARK is tightening things up across the board and not just in crypto.
These moves look like part of a larger effort to lock in gains as some of their key holdings hit new highs.
What This Means for Bitcoin ETF Investors
So, if you’re an investor in crypto or ETFs, what should you take from this?
First off, don’t panic. Large funds like ARK often sell assets at the top to stay diversified.
Selling at a high point is usually a sign of discipline, not doom.
Second, it’s worth noting that ARKB’s recent price surge shows just how much interest is building in Bitcoin ETFs.
These investment tools are becoming a mainstream way to gain crypto exposure without directly holding digital assets.
And finally, while ARK did sell, they’re still deeply involved in crypto.
They’ve held off on further sales of Circle (CRCL) shares after dumping $110 million worth last month.
So, clearly, they’re not abandoning the sector just reshuffling.
Wrapping It Up
ARK Invest’s latest sale of its Bitcoin ETF holdings is a textbook example of profit-taking.
They sold right after the fund hit an all-time high, following a major stock split.
While some investors may view this as a warning sign, the move fits ARK’s long-standing habit of adjusting when positions get too large.
They’re not getting out of crypto far from it. Instead, they’re being strategic. And in volatile markets like this, that’s often the smartest move.