Cathie Wood Cashes Out Bitcoin ETF as ARKB Hits Peak
Cathie Wood’s ARK Invest just sold its largest single-day amount of ARK 21Shares Bitcoin ETF ($ARKB) shares since the fund’s stock split in June. ARK offloaded 225,742 ARKB shares from its ARK Next Generation Internet ETF (ARKW) on Tuesday. Based on the closing price of $38.70, that sale brought in $8.7 million. This move came as ARKB hovered near its highest levels ever.
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This is not ARK’s biggest sale in dollar terms. Back in April, they sold $12 million worth of ARKB, but in terms of share volume, it is the largest since the 3-for-1 stock split. It signals that ARK is not hesitating to take profits when the market is hot.
ARKB Cashes Out on Post-Split ATH
ARKB hit $39.30 on July 6, which translates to $117.90 per share on a pre-split basis. The stock split itself didn’t change the value of investors’ holdings but made the ETF more accessible to retail traders by reducing the share price and increasing the total number of shares.
ARK’s timing suggests it sees current levels as an opportunity to realize gains after the run-up in price. This is a classic institutional move: sell when liquidity and sentiment are strong. At the same time, ARK has been buying beaten-down names like Tesla(TSLA), where sentiment remains cautious.
ARK Unloads Coinbase and More
ARK didn’t stop with Bitcoin exposure. It also sold 34,207 shares of Coinbase (COIN) from the same ARKW fund, generating another $13.3 million. That’s on top of recent Coinbase sales last week, where ARK offloaded $2 million worth of shares on both Thursday and Friday through its flagship ARK Innovation ETF (ARKK).
ARKK also dumped 58,504 shares of Robinhood (HOOD) and 24,780 shares of Block (SQ), worth $5.6 million and $1.7 million respectively. These coordinated sales suggest a broader portfolio repositioning across crypto-related stocks.
The sell-off doesn’t necessarily mean ARK is turning bearish on crypto stocks or Bitcoin. Cathie Wood has remained a long-term Bitcoin bull. But this is a tactical move, a way to crystallize gains while keeping dry powder ready for redeployment.
ARK Prioritizes Discipline over Hype
ARK is known for adjusting its weightings regularly. The recent trimming of high-flying assets may also be a risk management move to prevent overconcentration in a few names. Crypto stocks have been among the best performers in 2025 so far, which can skew portfolio allocation quickly.
By reducing exposure to ARKB, Coinbase, Robinhood, and Block, ARK shows it is prioritizing discipline over hype. It’s not a pivot away from crypto, but rather a reminder that even believers like Wood understand the importance of trimming the sails when the wind picks up.
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