Cathie Wood’s Ark Invest Makes Portfolio Changes: Coinbase and GBTC Out, Robinhood In!

The world of investing is fast-paced to say the least, and if you don’t adapt, you’ll get left behind! In tune with this, Cathie Wood’s Ark Invest continues to actively manage its portfolio, making significant adjustments based on its outlook for various sectors.

In a recent move, Ark Invest has offloaded holdings of Coinbase and Grayscale Bitcoin Trust while accumulating Robinhood shares.

Coinbase Strategy: Selling Despite Success?

In a surprising move, Ark Invest sold 237,572 Coinbase shares, totaling about $34 million on December 5th. This happened across three main ETFs—ARK Innovation, ARK Next Generation Internet, and ARK Fintech Innovation. It’s worth noting that this comes after selling an additional 300,000 Coinbase shares last month.

This decision might seem counterintuitive, considering Coinbase’s recent success. Despite a slight dip on Tuesday, the stock has climbed 16% in a week and a whopping 63% in a month.

Here’s Another Change: Is Cathie Wood Losing Faith in Bitcoin? Ark Invest Dumps Holdings

GBTC: Making Smart Choices

Ark Invest didn’t stop at Coinbase; they also sold 168,127 GBTC shares, worth $6 million through ARK Next Generation Internet ETF on the same day. This adds to the over 800,000 GBTC shares sold since October, in sync with a narrowing negative premium.

While the GBTC price has experienced a significant 330% year-to-date growth, it closed 4.35% higher on Tuesday but is trading slightly lower in premarket hours. Ark Invest’s careful moves suggest a thoughtful look at the digital asset landscape.

Read More: Grayscale Executives Say GBTC May Become an ETF on NYSE; What Should Investors Expect? 

Robinhood Outlook Remains Positive

In contrast, Ark Invest is optimistic about Robinhood, actively buying its shares. ARK Fintech Innovation ETF recently bought 9,586 Robinhood shares as the price passed $10. This followed a previous purchase of 14,702 shares on December 4th, triggered by a 15% price increase in a week.

Robinhood closed 10.26% higher on Tuesday, and premarket hours show ongoing investor confidence. Ark Invest’s strategic buying indicates a strong belief in Robinhood’s potential for growth in the current bullish market.

What Do We Make of This?

These strategic moves by Ark Invest highlight its forward-thinking approach to managing assets. While selling Coinbase and GBTC might seem cautious, buying Robinhood shows confidence in its future. As the investment landscape shifts, Ark Invest’s dynamic portfolio management keeps it at the forefront of investment strategies.