ARK Sells $17 Million in Coinbase, Invests $18 Million in Bullish

ARK Investment has divested $17 million from Coinbase, reallocating $18 million into Bullish as the crypto market faces significant declines.

In a recent strategic move, ARK Investment Management has liquidated its position in Coinbase, totaling approximately $17 million, while simultaneously investing $18 million into Bullish. This decision comes at a time when the cryptocurrency market is experiencing considerable turmoil.

The price of Coinbase (COIN) plummeted by 13.34% in a single day, ending at $146.12. This decline is part of a broader trend as the crypto market struggles, with Bitcoin's value dropping to around $60,000, marking its lowest point since November 2024.