Cathie Wood’s ARK Invest Moves $17M From Coinbase to Bullish in Crypto Portfolio Shift
- ARK shifted $17M into Bullish while cutting Coinbase exposure.
- Big investors are staying in crypto but diversifying their bets.
ARK Invest, led by Cathie Wood, has just adjusted its crypto ETFs position by buying about 716,000 shares of Bullish, which is worth around $17 to $18 million, while selling 119,000 shares of Coinbase, which is worth around $17.4 million. The trades were executed across three ETFs: ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Fintech Innovation ETF.
Reason behind Bullish Investment
The company is still reporting losses, but its stock price has risen following better-than-expected earnings from the Bullish. The firm’s sales jumped about 68% compared to last year, and the trading activity stayed healthy despite the market swings. Bullish shares have also fallen recently, which makes them cheaper.
Coinbase remains the bigger position in ARK’s funds even after the sale. ARK believes that growth could be stronger elsewhere in the near term, and spreading bets can reduce risk. So they started reducing it instead of making the dramatic move.
The ARK’s reshuffling strategy signals that the firm still believes in crypto, but it wants diversified exposure. Instead of betting on a single company, it spreads across multiple infrastructure companies. This change comes right after the Bitcoin drop, and the exchange stocks moved up and down with it. ARK appears to be adjusting the position without leaving the sector.
If Bullish continues to show revenue acceleration, additional inflows into the stocks could follow, and market watchers will be looking to see whether other asset managers follow ARK’s lead. For now, ARK’s move highlights a key reality of the current cycle: that conviction in crypto remains strong, but the capital is being deployed with greater selectivity.
Highlighted Crypto News:
Crypto Market Rebounds as Bitcoin Leads Recovery and Altcoins Follow
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