Why Ark Invest’s Latest Moves Have Everyone Talking, and Not Just About Coinbase!

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In a move that could make even the stoutest heart quiver, ARK Investment Management has decided to cash in its chips, parting ways with a staggering 218,986 shares of Coinbase (COIN), a tidy sum of about $90.6 million deposited into their already bulging pockets. But fear not, dear readers! For in a dazzling twist of fate, the firm also disclosed a rather ambitious investment of approximately $175 million in shares of Bitmine Immersion (BMNR), the Ethereum treasury company that could almost be considered a wishful gambler’s dream!

Ah yes, this latest maneuver, akin to a magician pulling a rabbit out of a hat, continues a trend of trading COIN shares this month. One can only wonder if Cathie Wood is spending her evenings calculating the next grand twist in her investment opera!

ARK Invest Declares War on Coinbase Shares

Cathie Wood’s illustrious investment firm—one could almost hear the trumpets blaring—announced this reduction on July 21 through a post on X (the platform previously known as Twitter, for those who may have misplaced their sense of history). The sales were as nicely spaced as a well-timed tea break, spread across ARK’s various exchange-traded funds (ETFs). Delightful!

In the grand ballet of numbers, the Ark Innovation ETF (ARKK) pirouetted past with an offloading of 174,746 Coinbase shares. Not to be outdone, the Ark Next Generation Internet ETF (ARKW) sold a mere 27,663 shares while the Ark Fintech Innovation ETF (ARKF) made a quieter exit with 16,577 shares. It seems our friends at ARK have decided that sharing is indeed caring, particularly when it comes to selling!

This month, the firm’s circular dance around the COIN shares reached dizzying heights, with sales each week, as if staking a claim to the title of “Most Active Investors on the Block.” On July 1 and 2 alone, ARKW divested a neat 9,116 and 3,067 COIN shares respectively. By the time the second week rolled in, ARK had shed a further 22,223 Coinbase shares, like a tree shedding leaves in autumn.

And even in the recent past, the investment company trimmed its COIN exposure, snipping off another 43,762 shares like a gardener tending to a particularly unruly hedge. Despite this feverish selling, Ark Invest remains one of the top 10 holders of COIN, as confirmed by Yahoo Finance—a title that must come with certain bragging rights!

The latest reduction made its entrance just in time to coincide with COIN reaching its all-time high (ATH) on July 18. Coincidence? I think not! This milestone also helped those who bought into Coinbase’s initial public offering (IPO) swim back into the warm waters of profitability.

Meanwhile, as the stampede unfolded, COIN took a slight tumble, positioned at $413.63 yesterday, a mere 1.47% drop. But look out! In pre-market trading, a flicker of hope emerged with a 0.3% rise, as if to say, “Not today, bears!”

Moreover, future messages in a bottle hint at potential growth! Cantor Fitzgerald, the financial services titan, recently elevated its price target for COIN to a handsome $500, up from $292—all while you wondered what to have for breakfast.

“The firm is raising 2026 EPS estimates to a whopping $10.76 (from $8.36) thanks to an uptick in transaction, stablecoin, and blockchain rewards revenue. They now apply a sprightly 46.5x PE multiple (up from 35x), reflecting Coinbase’s refinement from a mere cyclical trading platform to a veritable crypto stronghold, buoyed by its stablecoin initiatives,” declared the insightful Walter Bloomberg.

In a similarly flamboyant move, Ark Invest decided to trim its ties with some other stocks too. They sold a cavalcade of 109,824 shares of Robinhood (HOOD) worth a cool $11.46 million and 90,061 shares of Block Inc. (XYZ) for a modest $7 million. A strategic game of musical chairs, one might say, only without the whimsical music.

Cathie Wood and the Magnificent Bitmine Purchase

Meanwhile, in a plot twist that could rival any George Lucas saga, Ark Invest also launched into the digital fray, acquiring a hefty 4.4 million shares of Bitmine Immersion Technologies, valued at around $175 million. A bold move, indeed! The acquisitions spread across the ARKK (2,937,432 shares), ARKW (927,898 shares), and ARKF (555,704 shares) like a well-executed plan for world domination.

Bitmine, with its ambitious Ethereum treasury strategy, has recently appointed Tom Lee, the founder of Fundstrat, as Chairman of the Board of Directors—because who wouldn’t want to sit in such distinguished company?

“Ah, Peter Thiel, the man whose reputation precedes him—having co-founded PayPal and predicted trends before they even had a chance to develop. Just made another move! He’s taken a 9.1% stake in Bitmine, a treasury vehicle linked to ETH and Tom Lee. It seems he’s loading up on ETH while everyone else is busy fiddling with their portfolios!” declared an overly enthusiastic analyst.

This latest escapade ties neatly into Ark’s grand focus on innovative blockchain technologies and the institutional adoption of cryptocurrencies. In a charming act of diversity, the firm also dipped its toes into smaller purchases, acquiring shares of Advanced Micro Devices Inc. (AMD), DoorDash Inc. (DASH), Deere & Co. (DE), and other clever ventures—because, after all, variety is the spice of life!

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2025-07-22 08:47