ARK Invest Continues Coinbase Sell-Off with $22M, Acquires Bullish

ARK Invest led by Cathie Wood sold $22M worth of Coinbase shares while investing in 393,000 shares of the crypto exchange Bullish.

Cathie Wood’s ARK Invest has notably continued its trend of divesting from Coinbase, recently selling 134,472 shares valued at approximately $22 million across three of its exchange-traded funds (ETFs). This latest move marks a significant point in ARK's investment strategy as it reallocates resources.

In contrast to the sale of Coinbase shares, ARK Invest simultaneously made a strategic purchase of over 393,000 shares in Bullish, a cryptocurrency platform. This dual approach highlights ARK's adaptation to the evolving landscape of the crypto market while maintaining a focus on innovative platforms.