The ARK Trade Watch: Cathie Wood Cuts Crypto Exposure, Then Reverses Course On CoreWeave

• The firm’s crypto selling also included Bitmine Immersion Technologies, Circle Internet Group, Coinbase Global and Bullish.
• CoreWeave was the biggest reversal, with ARK selling 64,923 shares on Monday before buying 239,083 shares across ARKK and ARKW on Thursday.
• ARK also trimmed large technology and biotech holdings including Palantir, Shopify, Tempus AI, Amazon, AMD and 10x Genomics.

Cathie Wood’s Ark Invest funds spent Monday exiting nearly every crypto-linked position across the firm’s ETFs, then spent Thursday buying back into a name it had sold just three days earlier – CoreWeave (CRWV).

The Crypto Clean-Out

On Monday, ARK sold more than 1.5 million shares of its own ARK 21Shares Bitcoin ETF (ARKB) across the ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF), the single largest trade of the week by volume as of Friday morning. 

The same day, the funds sold Bitmine Immersion Technologies (BMNR), Circle Internet Group (CRCL) across two separate ETFs, Coinbase (COIN), and Bullish (BLSH). 

ARKB’s price has fallen over 3% this week. On Stocktwits, retail sentiment around the ETF remained in ‘bearish’ territory over the past week.

CRCL stock took the biggest fall among the cohort, falling over 12% since Monday, followed by COIN stock, which dipped over 9%. BLSH and BMNR shares each fell around 7%. 

Combined, it amounted to a same-day retreat from every form of crypto exposure in ARK’s active funds. They had direct bitcoin exposure through ARKB, exchange exposure through Coinbase and Bullish, and stablecoin infrastructure through Circle.

However, Monday’s selling wasn’t limited to crypto. ARK also trimmed Palantir (PLTR), Shopify (SHOP), Tempus AI (TEM), Amazon (AMZN), and Advanced Micro Devices (AMD), along with a cluster of genomics and biotech names including 10x Genomics (TXG), Natera (NTRA), Illumina (ILMN), GeneDx (WGS), and Twist Bioscience (TWST). Alphabet (GOOGL) shares were sold across multiple funds throughout the week in smaller increments.

The CoreWeave Reversal

CoreWeave was part of Monday’s selling too, with ARK’s flagship ARK Innovation ETF (ARKK) offloading 64,923 shares. But by Thursday, the fund had reversed course. ARKK and ARKW together bought 239,083 CoreWeave shares, more than triple what was sold three days earlier, for a net addition of roughly 174,000 shares on the week.

The reversal makes CoreWeave the only name in ARK’s trading this week that moved in both directions. The buying came after CoreWeave announced that it signed new compute contracts at roughly $40 million per megawatt, was planning to raise $3 billion from a private offering of convertible senior notes due 2033, and a new at-the-market (ATM) program covering upto 35 million shares of its Class A common stock.

 CRWV stock has fallen almost 4% this week. On Stocktwits, retail sentiment around the company moved to ‘bullish’ from ‘neutral’ territory over the past week.

Elsewhere in the Portfolio

Outside of the crypto-CoreWeave story, ARK’s other notable moves this week were smaller and steadier. 

AeroVironment (AVAV) was bought across three separate funds, ARK Autonomous Technology & Robotics ETF (ARKQ) and ARK Space Exploration & Innovation ETF (ARKX), on both Monday and Tuesday, part of a consistent defense and drone accumulation rather than a single large bet. 

AVAV stock has gained 6.5% so far this week. Retail sentiment around the company on Stocktwits fell to ‘neutral’ from ‘extremely bullish’ over the past week.

ARK Genomic Revolution ETF (ARKG) bought Ionis Pharmaceuticals (IONS) and Guardant Health (GH) while selling 10x Genomics, and ARKW added to Meta Platforms (META) on Monday.

Here’s the past week’s ARK trades summing shares traded across all funds, sorted largest to smallest by total volume:

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