Ark Invest Sells Large Stakes in Bitcoin ETF, Circle, Coinbase

Ark Invest has significantly reduced its exposure to cryptocurrency-related assets. On April 14 (local time), the asset manager adjusted its positions across major crypto-linked funds.

According to blockchain media The Crypto Basics, Ark Invest sold 1,528,953 shares of ARK-21Shares Bitcoin Spot ETF 'ARKB' on April 14, valued at approximately $40 million based on the previous day's closing price. The firm also reduced its Circle holdings by selling 142,350 shares across two funds for around $13.8 million, as Circle closed up 7.53% at $97.42.

Coinbase saw a sale of 36,628 shares worth about $7 million, with Coinbase closing up 9.24% at $191.45. Ark Invest also sold 153,881 shares of Bitmain Emerging Technologies for roughly $3.96 million and 18,280 shares of Blythe Global for about $687,693.

All three assets sold by Ark Invest closed higher on the day: ARKB rose 4.5% to $20.50, Circle was up 7.53%, and Coinbase gained 9.24%. The firm typically adjusts its holdings based on market movements while keeping individual ETF positions below 10%.

The timing of Ark's moves coincided with renewed discussions around U.S. digital asset legislation. On April 14, Senate Republicans released an amended version of the 'Clarity Act,' which included some Democratic requirements and changes supported by former President Donald Trump. However, the bill failed to secure the necessary 60 votes for a floor vote on April 15, stalling its progress amid ongoing regulatory uncertainty.