Cathie Wood Doubles Down On Tesla Amid Elon Musk's Feud With Trump, Sells $3 Million Worth Of Coinbase Stock

Shivdeep Dhaliwal

July 01, 2025

On Tuesday, Cathie Wood-led Ark Invest made significant trades involving Tesla Inc. and Coinbase Global Inc. . These trades reflect Ark’s strategic positioning amid ongoing market developments. The transactions occurred as Tesla faced a dip in share price due to external factors, while Coinbase dealt with legal challenges.

The Tesla Trade

Ark Invest’s flagship fund, ARK Innovation ETF (BATS:ARKK), acquired 43,126 shares of the Elon Musk-led company, while ARK Next Generation Internet ETF (BATS:ARKW) added 13,242 shares to its portfolio. The total value of these purchases, based on the latest closing price, amounts to $16.95 million. Tesla shares ended the day at $300.71.

Despite a recent decline in Tesla’s stock, driven by Musk’s public disagreement with former President Donald Trump over a federal spending bill, Ark remains bullish on Tesla’s long-term potential.

Meanwhile, Wedbush analyst Dan Ives has reiterated his optimistic outlook on Tesla, highlighting it as a leading player in the physical AI sector. Ives projects a $2 trillion valuation for the company, excluding potential earnings from its humanoid robot, Optimus. Tesla is Ark Invest’s largest holding, making up 9.7% of its portfolio by weight. The market value of Ark’s Tesla shares stands at $664.7 million.

The Coinbase Trade

In contrast, Ark Invest reduced its stake in Coinbase by selling 9,116 shares through ARKW. This decision comes as Coinbase faces legal hurdles, with the Supreme Court denying an appeal to prevent the IRS from accessing user data. On Tuesday, Coinbase shares closed at $335.33. The Ark transaction was valued at $3.06 million.

The legal head of Coinbase, a platform that allows trade in cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), has vowed to continue the fight, underscoring the ongoing challenges the company faces in navigating regulatory landscapes.

Other Key Trades:

ATAI Life Sciences NV – Ark Invest’s ARKG fund bought 949,630 shares.
Adaptive Biotechnologies Corp – ARKG sold 153,324 shares.
Compass Pathways PLC – ARKG acquired 153,647 shares.
Roblox Corp – ARKK reduced its position by selling 26,877 shares.

Read Next:

IBM Just Tackled One Of Tech’s Most Annoying Bottlenecks

Photo Courtesy: Ira Lichi On Shutterstock.com

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

Recommended

What's inside Elon's building in Memphis will shock you - Ad

Crypto Genius: These 5 Altcoins Could Crush Bitcoin in 2025 - Ad

Trump Exec Order to Help Restore Wealth for American Citizens? - Ad

WASHINGTON (AP) — President keeps saying that Republicans' mega legislation will eliminate taxes on federal benefits.

Inside The Trump Family's $620 Million Crypto Empire

Since retaking the White House, Donald Trump's reported net worth has remained broadly stable, around $6.5 billion on Election Day to roughly $6.4 billion today.

Elon's Greatest Invention... Hidden in South Memphis?

Elon's Greatest Invention... Hidden in South Memphis? - Ad

In South Memphis, I uncovered what could be Elon Musk's biggest invention yet. It's so secretive, rivals are flying drones to spy on it. If you're serious about investing in AI, now's the time to see what's really going on inside those walls.

Elon Musk Renews Demand for Jeffrey Epstein Files Release, Weeks After Alleging Trump Is Named in Them

Elon Musk has once again demanded the release of the unredacted Jeffrey Epstein files. This comes in the wake of his allegations against President Trump.

Do as I say, not as I do: On my failings as an investor

If a knowledgeable observer trained his or her sights on my choices, what are the trouble spots they would identify? Here are some of the biggies.

How to Hack a $1.3T Market

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

PHOTO ESSAY: In rural Alaska, collecting driftwood saves time, money and brings jobs

GALENA, Alaska (AP) — As ice breaks on the Yukon River, Jake Pogrebinsky looks at the water from shore, searching for a large log floating downstream.

Making healthy snacks a habit when afternoon energy slumps strike at work

NEW YORK (AP) — When Claire Paré was a classroom teacher, working in a setting where every minute, down to the bathroom breaks, was scheduled, she brought granola bars, and protein shakes to school so she’d be prepared when hunger hits.

Back This Medical AI Tech

Back This Medical AI Tech - Ad

You don't often find healthcare tech company valued at $4M. HeartSciences is an exception. With $75M invested, including R&D, clinical trials, and product development, their patented AI software is approaching FDA submission, a potential major inflection point.

Jim Cramer Made 'FAANG' Popular, Now He Says There's A New Acronym To Describe These Retail Favorite Stocks — 'PARC'

Renowned TV host Jim Cramer is stirring chatter on X with another buzzworthy "meme stock" acronym, aimed at a new group of retail-favorite stocks that are defying gravity.

Trump's 'Big Beautiful Bill' And Its Impact On Bitcoin, America's Debt Crisis And Robinhood's Blockchain Move: This Week In Crypto

President Donald Trump's "Big Beautiful Bill" has sparked market buzz for its potential to fuel Bitcoin adoption amid inflation fears.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Could Eminem Be AMC's Next Secret Weapon After Taylor Swift Success?

Eminem is heading to AMC movie theaters exclusively for his new documentary film "Stans."

Hong Kong plans to regulate Uber and other online ride-hailing services

HONG KONG (AP) — The Hong Kong government on Tuesday unveiled proposals to provided by tech companies like Uber, requiring platforms, cars and drivers to be licensed before hitting the road.

FDA Submission Expected This Summer - Invest Before It Happens

FDA Submission Expected This Summer - Invest Before It Happens - Ad

This company is making heart disease easier to detect with AI. Their tech has officially been designated a "Breakthrough" by the FDA. You now have an opportunity to get in at a potential inflection point.

What to know about buying electric vehicles after the federal tax incentives end

The massive tax and spending cut bill that ends federal tax incentives for electric vehicles.

OpenAI's Sam Altman Hints At Compensation Evaluation Amid Meta's 'Distasteful' AI Talent Poaching Spree: Report

OpenAI CEO Sam Altman in a message to OpenAI researchers, reportedly emphasized the importance of staying with OpenAI and hinted at possible compensation evaluations.

Is Elon's Empire Crumbling?

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

US judge says China's Huawei Technologies must face criminal case for racketeering and other charges

BANGKOK (AP) — A U.S. judge has ruled that China’s Huawei Technologies, a leading telecoms equipment company, must face criminal charges in a wide reaching case alleging it stole technology and engaged in racketeering, wire and bank fraud and other crimes.

Sarepta Therapeutics Stock Plunges Over 30% In Friday Pre-Market: What's Going On

Shares of Sarepta Therapeutics (NASDAQ: SRPT) plunged 26.85% in Friday pre-market after a clinical trial participant died following treatment with a gene therapy, marking the third death linked to the company's experimental treatments.

Have You Seen this Strange Elon Musk Device?

Have You Seen this Strange Elon Musk Device? - Ad

Tech legend Jeff Brown predicts this "space technology" will be Elon Musk's next trillion-dollar business, and it will make a lot of people rich. This could be the biggest internet innovation since the first web browser Netscape kicked off the internet boom in the late 1990s.

Settlement reached in investors’ lawsuit against Meta CEO Mark Zuckerberg and other company leaders

WILMINGTON, Del. (AP) — A settlement was announced Thursday in court in a against Meta CEO Mark Zuckerberg and current and former company leaders over claims stemming from the privacy scandal involving the Cambridge Analytica political consulting firm.

LOCALIZE IT: Congress may rescind $1.1B in funds for local public radio and TV stations this week

EDITORS/NEWS DIRECTORS:

What's inside Elon's building in Memphis will shock you

What's inside Elon's building in Memphis will shock you - Ad

Inside Elon Musk's Memphis site lies a supercomputer built to power the world's first superhuman AI. It could make Elon a trillionaire - and new millionaires, too. With just $500, you could get in before the July 1st funding window closes.

Tesla Cybertruck Bet Not Paying Off? Ford, GM Outsell EV Giant

Elon Musk's dream of having a top-selling electric pickup may be a thing of the past as the Cybertruck continues to see declining demand.

Alibaba Cloud Opens Third Malaysia Data Center, Plans Second in Philippines

Alibaba expands cloud networks and AI capabilities globally, opening new data centers in Malaysia, Philippines, and South Korea by 2025.

Crypto Genius: These 5 Altcoins Could Crush Bitcoin in 2025

Crypto Genius: These 5 Altcoins Could Crush Bitcoin in 2025 - Ad

On August 30th, two powerful "Wealth Drivers" ignite what could be a 2025 super bull run-backed by Trump. The altcoin market as a whole has already soared 132,721% over the past ten years and could surge again. A $900 stake could turn into $108K over 12 months. This is The Great Gain of 2025.

Billy Long will be sworn in as IRS commissioner, taking over an agency he once sought to close

WASHINGTON (AP) —

After Trump Warns Elon Musk To 'Close Up Shop,' China Rallies Behind World's Richest Man: 'There's No Need To Keep Putting Up With It'

Chinese social media users support Elon Musk's stance against Trump's 'One Big, Beautiful Bill' as Musk could found a political party.

Trump Exec Order to Help Restore Wealth for American Citizens?

Trump Exec Order to Help Restore Wealth for American Citizens? - Ad

Thanks to President Trump's Executive Order 14179, a brief "AI Wealth Window" is opening now. Genius investor James Altucher has released 3 AI wealth-building strategies to take advantage of Trump's genius Executive Order 14179. James believes you could see $10,000 grow to $1 MILLION or more over the next few years.

After Diddy's conviction, here's where his business ventures stand

LOS ANGELES (AP) — Sean “Diddy” Combs has been in his federal sex trafficking trial, but that doesn't mean the once-celebrated music mogul will see his business empire restored.

Faced with geopolitics and trade war, US companies in China report record-low new investment plans

WASHINGTON (AP) — American companies in China are reporting record-low new investment plans for this year and declining confidence in profits, while uncertainty in U.S.-China relations and President Donald Trump’s tariffs have become their top concerns, according to a business survey released Wednesday.

Elon's Greatest Invention... Hidden in South Memphis?

Elon's Greatest Invention... Hidden in South Memphis? - Ad

1.4M of the nation's poorest renters risk losing their homes with Trump's proposed HUD time limit

WOODINVILLE, Wash. (AP) — Havalah Hopkins rarely says no to the chain restaurant catering gigs that send her out to Seattle-area events — from church potlucks to office lunches and graduation parties.

Carney Faces Cross-Border Pressure Amid High-Stakes US Trade Talks

Carney faces growing criticism at home as Trump threatens steep tariffs amid tense Canada-U.S. trade negotiations.

How to Hack a $1.3T Market

How to Hack a $1.3T Market - Ad

President Trump announces trade deal with Vietnam that will let US goods into the country duty-free

WASHINGTON (AP) — President Donald Trump announced a trade deal with Vietnam Wednesday that would allow U.S. goods to enter the country duty-free.

Comcast Hikes Peacock Prices Again: Will You Pay $11 A Month For Ads?

Peacock streaming service will cost new subscribers $11 per month for the ad-supported plan and $17 for the ad-free version.

Back This Medical AI Tech

Back This Medical AI Tech - Ad

Australian airline Qantas says customer data stolen by cybercriminal

Australian airline Qantas said Wednesday that a hacker made off with a trove of customers' personal data including passenger names, emails, phone numbers, birth dates and frequent flyer numbers.

Trending Now

Trump Calls America Party A 'Train Wreck,' Blasts Elon Musk For Going Completely 'Off The Rails': President Says System Not Designed For A Third Player