On Monday, December 15, Cathie Wood-led Ark Invest executed significant trades, prominently involving Tesla Inc. (NASDAQ:TSLA), Circle Internet Group Inc. (NYSE:CRCL), Coinbase Global Inc. (NASDAQ:COIN), and Bitmine Immersion Technologies Inc. (NYSE:BMNR). These trades reflect Ark’s strategic positioning in both the electric vehicle and cryptocurrency sectors.
The Tesla Trade
Ark Invest sold a substantial number of shares in Tesla Inc. across its ARK Innovation ETF (BATS:ARKK) and ARK Next Generation Internet ETF (BATS:ARKW). A total of 124,867 shares were sold, with the stock closing at $475.31, generating approximately $59.35 million.
This move comes amid Tesla’s ongoing developments in autonomous driving, as CEO Elon Musk confirmed testing of driverless Robotaxis in Austin. Despite the company’s record EV deliveries, analysts are questioning the relevance of these numbers for Tesla’s stock, suggesting a shift in investor focus.
A Barclays analyst said Tesla’s future valuation appeared less tied to electric vehicle delivery numbers, arguing fourth-quarter deliveries likely would not matter for the stock and could come in soft. The analyst maintained an Equal Weight rating and raised a price target to $350, noting Tesla increasingly traded like a technology company rather than a traditional automaker.
The view aligned with Musk’s long-held stance that Tesla’s long-term value would be driven by technology, particularly Full Self-Driving software and the Optimus humanoid robot. Musk previously said as much as 80% of Tesla’s future value could come from Optimus, with FSD also cited as a major growth driver.
Some investors also forecasted weaker vehicle momentum, with estimates calling for 2025 deliveries to fall about 7% and 2026 deliveries to range from flat to up 5%, well below broader market expectations.
The Circle Trade
Ark purchased 143,579 shares of Circle Internet Group Inc. through ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARKK, and ARKW ETFs. With CRCL’s closing price at $75.46, the total investment amounted to approximately $10.8 million.
Despite Circle’s impressive third-quarter performance, the stock has faced challenges, as traders remain cautious about its long-term growth potential. Notably, Wood purchased several cryptocurrency-related stocks on Monday. Bitcoin (CRYPTO: BTC) extended its selloff, falling below $86,000, which dragged Ethereum (CRYPTO: ETH) under the $3,000 level, while XRP (CRYPTO: XRP) and Dogecoin (CRYPTO: DOGE) declined more than 4%. More than $600 million was liquidated from the crypto market over 24 hours, largely from bullish bets, as open interest continued to fall sharply from October highs.
The Coinbase Trade
Ark acquired 64,946 shares of Coinbase Global Inc. across ARKF, ARKK, and ARKW ETFs. With a closing price of $250.42, this purchase was valued at approximately $16.3 million.
Coinbase’s stock has been under pressure, reflecting broader cryptocurrency market trends. Recently Coinbase launched a mainnet bridge connecting its Base layer-2 network with Solana (CRYPTO: SOL), enabling direct transfers of SOL and Solana-native tokens into Base applications using Chainlink’s (CRYPTO: LINK) CCIP. The integration marked the first major link between an EVM-compatible network and Solana’s non-EVM architecture, using a dual-verification security model backed by Coinbase and Chainlink nodes.
The Bitmine Immersion Trade
Ark bought a total of 550,404 shares of Bitmine Immersion Technologies Inc. through ARKF, ARKK, and ARKW ETFs. With BMNR’s closing price at $30.95, the investment totaled approximately $17.03 million.
Shares of Tom Lee-chaired BitMine Immersion Technologies traded lower as Ethereum prices fell about 2.5% over the past 24 hours, weighing on ETH-focused stocks. The company said it held 3.97 million ETH, more than 3.2% of global supply, after adding over 102,000 tokens in the past week, with total holdings valued at about $13.3 billion including cash and other crypto. Despite the pullback, management reiterated its goal of owning 5% of total ETH supply and pointed to improving regulatory and institutional support for digital assets.
The Bullish Inc. Trade
Ark purchased 122,360 shares of Bullish through ARKF, ARKK, and ARKW ETFs. With a closing price of $42.43, the investment was valued at approximately $5.2 million.
Last month, Bullish reported third-quarter revenue of $76.5 million, beating estimates, while adjusted earnings of 10 cents per share matched expectations. Digital asset sales and adjusted transaction revenue declined year over year, but the Peter Thiel-backed company highlighted strong momentum from new crypto options products and expanded liquidity partnerships. Management said growth carried into the fourth quarter and guided subscription, services and other revenue of $47 million to $53 million, with adjusted operating expenses of $48 million to $50 million.
The Block Trade
Ark acquired 92,845 shares of Block Inc. through ARKK and ARKW ETFs. With a closing price of $64.02, the purchase was valued at approximately $5.9 million.
JPMorgan reiterated an Overweight rating on Jack Dorsey-led Block with a $100 price target, calling the third quarter solid overall despite margin noise and a one-time $70 million event that weighed on profitability. Last month, the analyst highlighted improving trends across Cash App and Square, arguing the core ecosystems are strengthening and positioning the company to reach the Rule of 40 by 2026. Cash App led the quarter with 24% gross profit growth, rising monetization, a sharp jump in Borrow originations and a return to growth in monthly transacting users, while Square delivered modest growth despite higher processing costs and margin pressure.
The ARK 21Shares Bitcoin Trade
The ARKB Trade saw Ark buying 43,553 shares of ARK 21Shares Bitcoin ETF (BATS:ARKB) through ARKF and ARKW ETFs. With a closing price of $28.48, the investment totaled approximately $1.2 million.
This move aligns with Ark’s strategy to increase exposure to Bitcoin, despite recent market volatility.
See Also: JPMorgan To Rival BlackRock, Goldman Sachs With $100M Tokenized Money Market Fund
Other Key Trades:
- Sold 27,571 shares of Shopify Inc. through ARKF.
- Sold 42,465 shares of SoFi Technologies Inc. through ARKF.
- Sold 29,332 shares of Ibotta Inc. through ARKF and ARKW.
- Bought 458,448 shares of Brera Holdings PLC through ARKF, ARKK, and ARKW.
- Bought 136,670 shares of CoreWeave Inc. through ARKK and ARKW.
Benzinga Edge Stock Rankings show that Tesla stock has a Value in the 3rd percentile. Here is how the stock ranks against Ford and GM.
Photo: ChrisStock82 / Shutterstock.com
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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