ARK Invest Sells $17M in Coinbase (COIN) Stock, Buys $18M in Bullish Amid Crypto Market Sell-Off

In a significant portfolio rebalance during a sharp crypto market downturn, Cathie Wood's ARK Invest has executed major trades. The investment firm sold 160,887 shares of Coinbase Global, Inc. (COIN), valued at approximately $17 million. Concurrently, ARK purchased around 1.48 million shares of Bullish, a cryptocurrency exchange, worth about $18 million. This move by one of the most prominent crypto-focused asset managers signals a strategic shift in exposure within the digital asset ecosystem during periods of high volatility. The trades highlight a rotation from a publicly-traded exchange giant to a private exchange entity as the market experiences a broad rout.