Ark Invest buys Coinbase, Circle, sells BitMine in crypto portfolio shift

Ark Invest, the firm led by Cathie Wood, trimmed its exposure to crypto‑related equities by selling 120,665 shares of BitMine Immersion (BMNR) and reducing holdings in Bullish, Block and Robinhood. The sale of BitMine, the company with the largest corporate treasury of ether, came as ether traded around $1,900 and broke Ark’s usual pattern of buying on crypto price dips.

At the same time, Ark allocated about $43.5 million to buy shares of Coinbase, the U.S. cryptocurrency exchange, and Circle, the issuer of the USDC stablecoin. The purchases signal a shift toward infrastructure firms that generate recurring revenue and are less dependent on token price movements. The moves occurred amid a broader weakness in crypto‑linked stocks, while Ark added positions in non‑crypto companies such as Taiwan Semiconductor, Kratos Defense and X‑Energy.