Cathie Wood's ARK Invest Sells $65 Million in Crypto Holdings Ahead of Senate Vote
On September 14, Cathie Wood’s investment firm, ARK Invest, sold approximately $65 million worth of cryptocurrency-related stocks and funds ahead of a key cloture vote on the Digital Asset Market Clarity Act. The sales included shares in Coinbase Global (COIN), Circle Internet Group (CRCL), Bitmine Immersion Technologies (BMNR), Bullish (BLSH), and ARK’s own Bitcoin ETF (ARKB). Despite rising stock prices for most of these companies, ARK reduced its exposure significantly. The timing suggests a strategic move ahead of the Senate vote on regulatory clarity for digital assets. The cloture vote requires 60 votes to proceed, with at least seven Democratic senators needed in support. Wood’s actions may reflect uncertainty or caution regarding potential outcomes from the legislative process and their impact on crypto markets.
Tickers: $ARKB $BLSH $BMNR $COIN $CRCL
Topics: ARK Invest Bitcoin ETF Cathie Wood Crypto Stocks Digital Asset Market Clarity Act