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Cathie Wood’s ARK Invest is reshuffling its crypto exposure across flagship ETFs, snapping up shares of crypto exchange operator Bullish (NYSE:BLSH), while trimming holdings in Coinbase Global Inc (NASDAQ:COIN), according to a Coincentral report. This move may reflect shifting bets on where the next phase of digital-asset growth could emerge.
In all, ARK bought roughly 716,030 shares of Bullish, which ended Thursday at $24.90, across the flagship ARK Innovation ETF (BATS:ARKK), ARK Next Generation Internet ETF (BATS:ARKW), and ARK Fintech Innovation ETF (BATS:ARKF), for roughly $17.8 million. Simultaneously, ARK sold around 119,236 shares of Coinbase from those funds, at a value of about $17.4 million.
ETF Positioning Hints At...