ARK Invest Shifts $17.8M from Coinbase to Bullish, Boosts Bullish to 1.68%
ARK bought 716,030 shares of Bullish for $17.8 million and sold 119,236 shares of Coinbase for $17.4 million across its ARKK, ARKW and ARKF funds. Post-trade, Bullish comprises 1.68% of ARKK’s holdings while Coinbase remains 3.7%, signaling a selective crypto infrastructure pivot.
1. Trade Execution Details
ARK purchased approximately 716,030 shares of Bullish across its Innovation, Internet and Fintech ETFs for about $17.8 million, while divesting some 119,236 Coinbase shares valued at roughly $17.4 million.
2. Changes in Portfolio Weightings
Following this rebalancing, Bullish represents 1.68% of ARKK’s portfolio, 1.43% of ARKW and 2.37% of ARKF; Coinbase holdings now stand at about 3.7% of ARKK, 3.44% of ARKW and 4.95% of ARKF.
3. Strategic Rationale and Market Context
The shift follows Bullish’s latest quarter showing $92.5 million revenue (up 68% year-over-year) despite a $3.73 loss per share, suggesting ARK is prioritizing exchange platforms poised for growth within overall digital‐asset infrastructure.