Last week’s post on what we think was a very interesting trade involving Cathie Wood’s ARK Innovation ETF and the Bullish IPO caused a minor stir. A follow-up to clear up some things is therefore probably necessary.
A quick recap for those that don’t have the patience to read the last post: It looks like someone used the ETF mechanism to create and quickly redeem almost 70mn new shares in the ARKK ETF — and snag almost half of its circa $51mn windfall from the flotation of crypto exchange Bullish on August 13.
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