ARK Invest's two-day Alibaba selloff topped $71 million as the firm pivots toward crypto and AI bets
Cathie Wood just did what Cathie Wood does best: made a loud, decisive bet that doubles as a macro thesis. On June 26, ARK Invest offloaded roughly 570,391 shares of Alibaba Group across its ARKK, ARKW, and ARKF funds, a single-day sale worth approximately $54.2 million.
The day before, ARK had already trimmed about $17.6 million in BABA shares. Combined, the two-day reduction exceeded $71 million.
Where the money went #
On the same day as the Alibaba dump, ARK purchased 68,366 shares of Coinbase for approximately $9.7 million. The firm also scooped up 41,601 shares of Palantir Technologies for about $4.5 million.
ARK had actually been adding to its Alibaba position earlier in 2026. The firm picked up around 145,000 shares in Q1, building on a position it first reopened in 2025.
Why Coinbase matters here #
ARK has been one of the most consistent institutional buyers of COIN, treating it as a proxy for the entire crypto ecosystem rather than just an exchange stock. Coinbase has evolved well beyond spot trading into custody, staking, and institutional services.
The Palantir addition, while smaller in dollar terms at $4.5 million, follows the same logic. Palantir’s deepening ties to government defense and intelligence contracts give it a revenue moat that pure-play AI startups lack.
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