Cathie Wood’s Ark Invest buys Bullish, trims Coinbase as crypto-related stocks slide
The Block
Ark Invest purchased $17.8 million in Bullish shares while selling $17.4 million in Coinbase stock amid a broader crypto stock downturn.Summary
Cathie Wood's Ark Invest adjusted its exposure to crypto-related stocks on Thursday by buying approximately $17.8 million worth of Bullish shares across three ETFs, while simultaneously selling about $17.4 million of Coinbase stock. These trades occurred as crypto-related stocks experienced a broad sell-off; Bullish shares dropped 8.5% and Coinbase fell 13.3% on the day, continuing significant monthly declines. This market weakness mirrored the broader crypto environment, where Bitcoin briefly dipped near $60,000 before recovering, and Ether saw an 11.6% slide.
(Source：The Block)