Ark Invest Trims Crypto Stock Holdings While Boosting SpaceX Stake

Cathie Wood’s Ark Invest sold shares across several crypto linked companies yesterday, including Bitmine, Block, Bullish and Robinhood, as those stocks traded lower for the day.

Crypto-Related Holdings Reduced

According to Ark’s trading disclosure, the firm sold 120,665 shares of Bitmine worth around $2 million from its ARKK fund, as the Ethereum treasury company’s stock dropped 5.6% to close at $16.59. Ark also reduced its positions in Block Inc., Robinhood and Bullish, selling roughly $1.1 million worth of shares in each of the first two and about $247,000 in Bullish, all three of which traded lower that day.

SpaceX Purchase Continues

At the same time, Ark increased its stake in SpaceX, purchasing 128,932 shares worth approximately $14.5 million across multiple exchange-traded funds. SpaceX shares fell 3.32% on the Nasdaq to $112.55, moving further below its original IPO price of $135.

Routine Portfolio Rebalancing

Ark regularly adjusts its ETF holdings to ensure no single stock represents more than 10% of any fund’s total portfolio. This structure means the firm frequently buys or sells positions in response to significant price movements, rather than necessarily reflecting a broader shift in investment strategy or outlook on individual companies.