tl;dr
Ark Invest, led by Cathie Wood, is selling significant positions in crypto stocks Coinbase and Circle after strong gains in early 2025. In late June, Ark sold $43.8 million in Coinbase shares and over $110 million in Circle shares, following previous sales totaling nearly $97 million. This comes aft...
Ark Invest, led by Cathie Wood, is once again making waves by selling off significant positions in crypto stocks such as Coinbase and Circle. After a robust first half of 2025 for crypto equities, these recent sell-offs suggest Ark is securing profits amid a cooling rally.
Specifically, on June 30, 2025, Ark Invest offloaded approximately $43.8 million worth of Coinbase shares, following an earlier $12.5 million sale on June 27. In addition, since June 24, the fund sold over 410,000 shares of Circle, generating more than $110 million. This activity follows previous divestitures totaling nearly $97 million over two days in mid-June.
The timing of these sales is notable, as Coinbase stock surged 43% in June, leading the S&P 500, largely driven by enthusiasm around stablecoin growth. Circle’s stock has performed even more dramatically, soaring nearly 490% since its IPO. Ark appears to be leveraging this price strength to lock in gains, especially with JPMorgan Chase recently downgrading Circle’s stock to “underweight” and forecasting a potential price drop to $80 by the end of 2026.
Research from 10x Research positions 2025 as “the first year of crypto stocks,” noting a remarkable 119% rise in crypto stock performance this year. Despite this bullish backdrop, Ark’s selling signals caution, hinting that the crypto stock boom may be losing momentum.
Interestingly, while reducing its crypto exposure, Ark continues investing in established technology firms such as AMD, TSMC, and Shopify. This portfolio shift indicates a strategic move toward sectors with more sustainable growth prospects, balancing innovation with stability.