Cathie Wood's Ark Invest massively sells off tech stocks and Bitcoin ETFs

Odaily · 2026-03-28T00:13:55+00:00

Ark Invest recently sold approximately $41 million worth of Meta stock and over $26 million worth of Nvidia stock, while also reducing holdings in Bitcoin ETFs and other crypto-related stocks. Meta's stock price dropped 17% due to a lawsuit, and Nvidia is facing a class-action lawsuit. The Bitcoin price has recently declined to $66,020.

Odaily

2026-03-28 00:13:55

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Odaily Planet Daily News reported that Ark Invest sold approximately $41 million worth of Meta stock and over $26 million worth of Nvidia stock on Thursday. Additionally, the firm sold about $11 million of its own Bitcoin ETF (ARKB) shares, approximately $6.5 million of cryptocurrency exchange Bullish stock, and nearly $5 million of Block stock, the company founded by Jack Dorsey. Ark Invest also reduced its holdings of Alphabet stock by about $2.5 million and AMD stock by approximately $7.5 million.

Meta’s stock price has fallen over 17% in the past month to about $531, with a decline of around 10% in the past week following the platform’s losses in two social media addiction lawsuits. Nvidia has dropped about 5% over the past month and is facing a class-action lawsuit regarding discrepancies in cryptocurrency mining revenue. Bitcoin has decreased by approximately 4.8% in the past 24 hours to about $66,020, briefly dropping below $66,000, marking its lowest level since March 2.

After the sell-off, Ark Invest holds about $100 million in ARKB, making it the 35th largest position in its actively managed ETF. Cathie Wood previously predicted that Bitcoin could reach $1.2 million per coin by 2030.

BTC-3.56%

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