CoinGlass data also shows broader ETF sell-offs coinciding with Bitcoin’s recent price slump. ARKB shares reacted negatively, dropping 2.79% in a single day. This decline aligns with the cryptocurrency’s downward trend. However, Ark Invest did not only sell assets; it also executed strategic purchases. 

ARKK Makes Large Buys in Bullish and Robinhood 

ARKK (ARK Innovation ETF) acquired 356,346 shares of Bullish at an estimated $21.2 million. Additionally, it bought 150,908 shares of Robinhood Markets, totaling around $16.2 million. 

These purchases follow last week’s acquisition of 2.53 million Bullish shares, valued at roughly $172 million after the exchange debuted on the NYSE. Robinhood stock also saw previous buying sessions totaling $23 million. 

ARKK shares, however, fell 3.99% in a single day. The decline mirrors broader market uncertainty ahead of the Federal Reserve’s speech at the Jackson Hole symposium, which could influence market trends for weeks. 

These moves show Ark Invest actively rebalancing its portfolio amid market volatility. Both crypto and tech positions highlight the firm’s strategic approach to navigating corrections and opportunity in the market. 

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Strategic Dump: ARK Offloads Circle Shares Worth $146 Million

Cathie Wood’s ARK Invest has significantly reduced its position in Circle (CRCL) after its impressive market debut. On Friday, ARK sold 609,175 shares, generating $146.2 million, just as CRCL stock jumped 20.4% to close at $240.3, up 248% from its $69 IPO price on the New York Stock Exchange.

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In total, ARK sold 1.25 million shares throughout the week, collecting around $243 million. These included $52 million in sales on Monday and $45 million on Tuesday, signaling a deliberate reduction of exposure.

ARK Still One of Circle’s Largest Shareholders

Despite the sales, ARK Invest retains a significant stake, having only sold 29% of its initial 4.49 million shareholding from the IPO. As of June 20, the firm remains the eighth-largest holder of Circle shares, according to Bloomberg Terminal.

The largest holders are currently IDG-Accel China Capital Fund II, General Catalyst, and James Breyer. Meanwhile, CRCL has become the top holding within ARK’s ARKW fund, representing a 7.8% allocation.

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