Cathie Wood’s ARK Sells $17M of Coinbase to Buy $18M of Bullish During Crypto Rout
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Cathie Wood’s ARK Sells $17M of Coinbase to Buy $18M of Bullish During Crypto Rout



Cathie Wood’s ARK Invest moved quickly during Thursday’s crypto sell-off, trimming a major Coinbase stake and redeploying the proceeds into Bullish.

What happened
– ARK sold 119,236 shares of Coinbase (COIN), totaling $17.4 million at Thursday’s close. Coinbase plunged 13.3% on the day to $146.12 amid a broader crypto rout.
– Simultaneously, ARK purchased 716,030 shares of Bullish (BLSH) worth about $17.8 million, based on BLSH’s $24.90 closing price. Bullish fell roughly 8.5% on the session.
– The trades were disclosed via email by ARK Invest. Bullish is the parent company of CoinDesk.

Market backdrop
– The moves came as cryptocurrency prices tumbled — Bitcoin dropped from roughly $66,718 to lows near $60,000, its weakest level since November 2024 — pressuring shares of crypto-linked companies.

Why it matters
– ARK regularly adds to “crypto-adjacent” names when they dip, seeking cheaper entry points and rebalancing its funds. But using that window to pare back a flagship crypto holding like Coinbase is less common, making this swap notable for investors watching institutional positioning in crypto equities.

Bottom line
– With nearly equal dollar amounts sold and bought, ARK appears to be reshaping exposure within the crypto-equities space rather than exiting it — swapping a direct exchange operator for a media/exchange parent during a volatile stretch for digital assets.

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