After Coinbase stock surged to a record $444.65 on July 18, ARK Invest quickly took profits, offloading over $105 million in COIN shares across the following three days.
The move pushed Coinbase from the top spot in the firm’s portfolio to second place, signaling a calculated rotation rather than a shift in confidence.
At the same time, ARK increased its exposure to Tesla, snapping up $43.7 million worth of TSLA shares. Tesla now leads the fund’s holdings with a $1 billion stake, while Coinbase trails with roughly $803.5 million. This realignment mirrors ARK CEO Cathie Wood’s long-term strategy and belief in Tesla’s broader innovation pipeline.
Wood has repeatedly emphasized Tesla’s robotaxi potential as a key driver of future value. She expects the autonomous ride-hailing platform to account for 90% of Tesla’s projected $2,600 share price by 2030. In her view, traditional car sales are just the starting point—recurring revenue from software and self-driving services will define Tesla’s next growth chapter.
The fund’s swift reaction to Coinbase’s price spike suggests a tactical approach to crypto-related assets, using short-term momentum to fund longer-term bets on disruptive tech. While ARK has trimmed its Coinbase position, it still maintains a significant holding, hinting that it’s not abandoning the exchange—but merely rebalancing to fit evolving conviction levels.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/ark-invest-dumps-coinbase-stock-after-all-time-high-boosts-tesla-bet/