Overview
- After Thursday’s crypto sell-off, ARK sold 119,236 Coinbase shares (about $17.4 million) and bought 716,030 Bullish shares (about $17.8 million), according to its disclosure.
- On Friday, ARK trimmed Coinbase further by selling 134,472 shares for roughly $19.6 million after a rebound, while adding 393,057 Bullish shares for about $9.8 million.
- Earlier in the week ARK boosted crypto-linked exposure by buying Coinbase, Circle, BitMine, Robinhood, and shares of its ARK 21Shares Bitcoin ETF across its active funds.
- Trades were executed through multiple ARK ETFs, including ARKK, ARKF, ARKW, and ARKB, reflecting a rapid reallocation within crypto-exchange and fintech holdings.
- The moves came during a steep market downturn that saw bitcoin drop to lows near $60,000, with sentiment in “extreme fear” and more than $750 million in liquidations reported.