Ark Invest Shifts Portfolio: Bullish, Reddit, and Pinterest in Focus

On Monday, Cathie Wood-led Ark Invest executed notable trades involving Bullish (NYSE:BLSH), Reddit Inc. (NYSE:RDDT), and Pinterest Inc. (NYSE:PINS).

The Bullish Trade

Ark Invest made a considerable purchase of Bullish shares across multiple ETFs. The firm acquired 29,208 shares through the Ark Fintech Innovation ETF (BATS:ARKF),191,195 shares via the ARK innovation ETF (BATS:ARKK),and 56,660 shares through the ARK Next Generation Internet ETF (BATS:ARKW). The total value of these purchases amounted to approximately $10.02 million,calculated at the closing price of $36.75.

This move aligns with Ark’s ongoing interest in cryptocurrency exchanges, especially those backed by influential figures like Peter thiel. Bullish has been a focal point for Ark, with previous investments highlighting its potential in the crypto sector.

Notably, Ark’s investment in Bullish, a rival to Coinbase, came as Bitcoin (CRYPTO: BTC) slid toward $91,000 and Ethereum (CRYPTO: ETH) dipped below $3,000 on Monday, as the broader crypto downtrend intensified. Analysts flagged key support zones at ~$90,000 for BTC and ~$2,800 for ETH, warning of potential further declines.