Cathie Wood’s investment firm ARK Invest is showing a mixed reaction to the United States’ latest trade tariffs, offloading shares of its spot Bitcoin ETF while increasing its position in Coinbase.
ARK has acquired $26.6 million of Coinbase (COIN) stock since US President Donald Trump announced new trade tariffs on April 2, according to trading data seen by Cointelegraph.
The purchase includes a $13.2 million COIN buy on April 7 and another $13.3 million purchase on April 4.
Despite this bullish move on Coinbase, ARK simultaneously sold $12 million of its ARK 21Shares Bitcoin ETF (ARKB) on April 7. ARKB was one of the spot Bitcoin ETFs that launched in the United States in January 2024.
ARKW still offers $142 million of indirect exposure to Bitcoin
ARK’s $12 million ARKB sale from its Next Generation Internet ETF (ARKW) fund is one of the largest daily ARKB sales by the firm.
The latest dump follows an $8 million ARKB sale on March 3, another $8.6 million sale in February, and two smaller sales from January, totaling $3.5 million.
Top three holdings in ARK’s Next Generation Internet ETF. Source: ARK
Following the sales, ARKW continues offering indirect exposure to Bitcoin (BTC) through its ARK Bitcoin ETF Holdco, its largest position by market value. As of April 8, it held $142 million in ARKB, accounting for 11% of the fund’s weight, according to ARK’s website.
Bitcoin ETFs expand bleeding on tariffs news
The new trades came amid a major market sell-off, with BTC briefly sliding 11% to as low as $74,700 following the tariffs announcement, according to CoinGecko data.
Following $207 million in outflows from global Bitcoin exchange-traded products (ETP) last week, Bitcoin ETFs continued bleeding, starting the week with fresh $109 million outflows on April 7, according to data from SoSoValue.
Related: Michael Saylor’s Strategy halts Bitcoin buys despite dip below $87K
In the past three trading days, Bitcoin ETFs shed $273 million combined, according to SoSoValue.
Spot Bitcoin ETF data in the period from April 1 to April 7. Source: SoSoValue
Despite recent selling pressure, ARK remains one of the few spot Bitcoin ETF issuers with net positive flows year to date. As of April 4, ARK had recorded $146 million in inflows for 2025, CoinShares data shows.
Other issuers with positive year-to-date inflows include BlackRock’s iShares, with $3.2 billion and ProShares, with $398 million.
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