Cathie Wood’s Ark Invest buys Bullish, trims Coinbase as crypto-related stocks slide

Cathie Wood’s Ark Invest continued its high-conviction approach to the digital asset space this week, executing key trades that signal a shift in exposure within its flagship ETFs, primarily the ARK Innovation ETF (ARKK) and the ARK Next Generation Internet ETF (ARKW). This activity occurred amidst a generalized slide across crypto-related equities driven by broader market volatility and risk-off sentiment.

The most notable action was the strategic purchase of a significant block of shares in Bullish, the company operating the Bullish cryptocurrency exchange and focused on institutional-grade digital asset infrastructure. Ark views this investment as a high-growth entry point into the foundational layer of decentralized finance (DeFi), taking advantage of lower valuations during the sector’s recent decline.

Conversely, Ark trimmed its position in Coinbase Global (COIN). While Coinbase remains one of the largest and most important holdings across Ark’s funds, the firm sold a substantial number of shares. Analysts suggest this reduction is a calculated move to rebalance the portfolio, free up capital for newer high-conviction plays like Bullish, and manage concentration risk in established winners that have performed relatively well, even amid the sector downturn. This strategy underscores Ark’s willingness to rotate capital towards potential deep-value infrastructure plays within the struggling crypto market.

Source: Cathie Wood’s Ark Invest buys Bullish, trims Coinbase as crypto-related stocks slide