ARK Invest Buys $17.8M of Bullish, Sells $17.4M of Coinbase
ARK Invest purchased 716,030 shares of Bullish for about $17.8 million across ARKK, ARKW and ARKF while selling roughly 119,236 shares of Coinbase valued at $17.4 million. After the reallocation, Bullish represents 1.68%, 1.43% and 2.37% of ARKK, ARKW and ARKF holdings respectively.
1. ARK Reallocates Crypto Positions
ARK Invest shifted its flagship ETFs’ crypto exposure by acquiring 716,030 Bullish shares across ARKK, ARKW and ARKF for a total of $17.8 million. Concurrently, it reduced its Coinbase stake by selling approximately 119,236 shares valued at $17.4 million.
2. ETF Weightings Updated
The new Bullish allocation now accounts for 1.68% of ARKK, 1.43% of ARKW and 2.37% of ARKF, compared with Coinbase holdings of 3.7%, 3.44% and 4.95% respectively. These adjustments signal a more diversified approach to crypto exchange infrastructure.
3. Implications for Bullish Stock
Bullish shares surged over 8% on the news, reflecting market confidence in its recent 68% year-over-year revenue growth and earnings beat despite ongoing losses. The trade underscores ARK’s tactical outlook on digital-asset platforms amid volatile Bitcoin prices.