Cathie Wood’s Ark Invest Sells as Coinbase Stocks Hit Record High

On June 26, Ark Invest, a leading investment firm led by Cathie Wood, made a bold move to offload shares from major fintech firms. The company sold more than $24 million worth of shares from Coinbase Global Inc. and Block Inc.

This move comes shortly after Coinbase’s stock reached a new all-time high (ATH). The decision comes at a time when the U.S. crypto market is showing signs of strength and growing regulatory clarity.

Ark Invest Sold Coinbase Shares at Market Peak

This sale was carried out through Ark’s flagship exchange-traded fund, the Ark Innovation ETF (ARKK). Ark Innovation ETF sold 33,363 shares of Coinbase, totaling around $12.5 million. This sale was timed as Coinbase’s stock closed at $375.07 on Thursday, up 5.54% for the day. 

The stock has jumped 27.02% over the past five days and has gained an impressive 51.06% so far in 2025. Notably, the exchange’s stock rose just a day after it helped the U.S. Secret Service in an investigation. 

This effort resulted in the seizure of $225 million in cryptocurrency linked to investment scams. Many see this move as a confidence booster, showing that the company is secure, reliable, and trusted by regulators. 

At the same time, the exchange’s recent price rise is partly driven by more supportive and forward-moving U.S. policies toward crypto. Recently, the Senate approved the GENIUS stablecoin bill, which is now heading to the House. The bill aims to create clear rules for stablecoins. 

Block Inc. Also Part of the Ark’s Selloff

In addition to Coinbase, Ark Invest also sold 189,649 shares of Block Inc., a financial services company led by Jack Dorsey. This sale generated an additional $12.3 million. Block’s stock price closed slightly higher at $65.11 on Thursday, up just 0.46% for the day. 

The company experienced a challenging year in 2025, with its stock declining 23.39% since January. Unlike Coinbase, Block’s stock has not experienced a significant rise, but the company is making substantial moves in the industry. 

In May, the company announced plans to integrate Bitcoin payments on Square using the Lightning Network by 2026.

Circle’s CRCL Sees Renewed Momentum

Thursday also saw a rise in the stock price of Circle’s CRCL, the company behind the USDC stablecoin. Circle’s stock, recently listed on the New York Stock Exchange (NYSE), closed up 7.56%. This continued a rally that had briefly paused earlier in the week. 

This gain highlights renewed investor interest in companies tied to stablecoins and blockchain infrastructure. Circle’s stock valuation now exceeds its stablecoin’s $60 billion circulating supply, USDC.