Cathie Wood’s ARK bags $26M in Coinbase shares, unloads Bitcoin ETF

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Cathie Wood’s investment firm ARK Invest is showing a mixed reaction to the United States’ latest trade tariffs, offloading shares of its spot Bitcoin ( $61,249.00 ) ETF while increasing its position in Coinbase.

ARK has acquired $26.6 million of Coinbase (COIN) stock since US President Donald Trump announced new trade tariffs on April 2, according to trading data seen by Cointelegraph.

The purchase includes a $13.2 million COIN buy on April 7 and another $13.3 million purchase on April 4.

Despite this bullish move on Coinbase, ARK simultaneously sold $12 million of its ARK 21Shares Bitcoin ( $61,249.00 ) ETF (ARKB) on April 7. ARKB was one of the spot Bitcoin ( $61,249.00 ) ETFs that launched in the United States in January 2024.

ARKW still offers $142 billion of indirect exposure to Bitcoin ( $61,249.00 )

ARK’s $12 million ARKB sale from its Next Generation Internet ETF (ARKW) fund is one of the largest daily ARKB sales by the firm.

The latest dump follows an $8 million ARKB sale on March 3, another $8.6 million sale in February, and two smaller sales from January, totaling $3.5 million.

*Top three holdings in ARK’s Next Generation Internet ETF. Source: ARK*

Following the sales, ARKW continues offering indirect exposure to Bitcoin ( $61,249.00 ) (BTC) through its ARK Bitcoin ( $61,249.00 ) ETF Holdco, its largest position by market value. As of April 8, it held $142 million in ARKB, accounting for 11% of the fund’s weight, according to ARK’s website.

Bitcoin ( $61,249.00 ) ETFs expand bleeding on tariffs news

The new trades came amid a major market sell-off, with BTC briefly sliding 11% to as low as $74,700 following the tariffs announcement, according to CoinGecko data.

Following $207 million in outflows from global Bitcoin ( $61,249.00 ) exchange-traded products (ETP) last week, Bitcoin ( $61,249.00 ) ETFs continued bleeding, starting the week with fresh $109 million outflows on April 7, according to data from SoSoValue.

In the past three trading days, Bitcoin ( $61,249.00 ) ETFs shed $273 million combined, according to SoSoValue.

*Spot Bitcoin ( $61,249.00 ) ETF data in the period from April 1 to April 7. Source: SoSoValue*

Despite recent selling pressure, ARK remains one of the few spot Bitcoin ( $61,249.00 ) ETF issuers with net positive flows year to date. As of April 4, ARK had recorded $146 million in inflows for 2025, CoinShares data shows.

Other issuers with positive year-to-date inflows include BlackRock’s iShares, with $3.2 billion and ProShares, with $398 million.

Magazine: Bitcoin ( $61,249.00 ) heading to $70K soon? Crypto baller funds SpaceX flight: Hodler’s Digest, March 30 – April 5