Cathie Wood’s Ark Invest has made the news again. This time, it is for selling off $12.5 million worth of its Coinbase shares. If you have been following Wood and Ark Invest, this news will not surprise you. The asset manager has been on a selling spree in recent weeks, and apparently, it has not ended.
Apart from the $12.5 million worth of Coinbase sold off, Ark Invest also parted ways with $12.3 million worth of its shares in Block Inc. The selling off, done on Thursday, was done from one of Ark’s many exchange-traded funds.
While it may seem like Ark Invest is just on one long selling spree, the timing for the sale makes perfect sense. The same Thursday Ark sold was the day Coinbase had its new all-time closing high. On the close of that day, Coinbase’s stock closed with a gain of 5.54% to sell at $375.07. According to data from Yahoo, that marked a 27.02% over the past five days for Coinbase’s stock and a 51.06% gain year-to-date.
From the recent filings published by Ark Invest itself, it's on record that the asset manager sold exactly 33,363 COIN shares and another 189,649 shares of Block.
Here's every move Cathie Wood and Ark Invest made in the stock market today 6/26 pic.twitter.com/pSJnNdkiGt
— Ark Invest Daily (@ArkkDaily) June 27, 2025
Is Ark Developing A Selling-Off Pattern?
It was only about a week ago that Ark Invest parted ways with hefty parts of its shares in Circle (CRCL). That was a good deal for Ark Invest, too, as Circle stock had surged 500% ever since it debuted on the New York Stock Exchange for its IPO event.
In that Circle sale, analysts warned that a continuous sell-off of Circle shares from Ark could tank the stock value over time. And by the looks of things, Ark Invest likely took that warning, except that the firm explored another of its holdings to sell. However, Ark’s recent sale of COIN has sparked another debate among analysts. Some think it might keep surging, while others believe all that goes up must come down.
Crypto analyst Cantonese Cat has taken to X to say that it looks “like it just wants to keep going up for now.” Investment analyst Andy Heilman also noted that while the sentiment around COIN is bullish for now, it “is due for a pullback.”
At the moment, no one can say for sure what will happen to COIN. But there is no denying that there has been an increasingly positive landscape for stablecoins in the US. The Senate only recently passed the Genius stablecoin bill, which has also advanced to the House. Many stakeholders in the stablecoin industry have gone on to laud the bill.
It’s unclear if Ark Invest will continue selling more of its shares in Block and Coinbase. However, one thing is clear: Ark Invest may be selling off a lot, but the asset manager is clearly winning and hitting some big gains.
Gunel Ismayilova
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