Michael Burry, the investor made famous by The Big Brusque picture, has taken out a major short position against Cathie Wood's Ark Innovation exchange-traded fund (ETF).

According to second-quarter 13F filings from the United States Securities and Exchange Commission, Burry's hedge fund, Scion Asset Management, has purchased $31 1000000 worth of bearish put options against 235,000 shares of the ETF. Put options are a style of profiting from the decline in value of a stock or fund.

The Innovation ETF is the largest Ark fund with $22.62 billion in assets. It invests in a range of confusing engineering science companies, including Tesla, Square, Coinbase, as well as the Grayscale Bitcoin Trust (GBTC).

Burry wasn't the but firm to short Ark'due south flagship fund, according to the filings. Laurion Capital Management held roughly $171 meg worth of put options confronting ane.iii million shares, while GoldenTree Asset Direction, Moore Capital Management and Cormorant Asset Management likewise held big surly positions.

Only Forest appeared to relish the challenge, tweeting on Monday:

"To his credit, Michael Burry made a great call based on fundamentals and recognized the calamity brewing in the housing/mortgage market. I do not believe that he understands the fundamentals that are creating explosive growth and investment opportunities in the innovation space."

Wood is a house believer in crypto, and in July, Ark partnered up with Switzerland-based 21Shares, with the goal of creating a Bitcoin (BTC) ETF.

In the same month, Ark Invest purchased more than 450,000 GBTC shares in ii separate buys, and in April, Ark purchased $110 meg of Coinbase shares, some of which were for the Innovation ETF.

Burry, however, is a crypto behave and has been alert most "unsustainable valuations" in the market place for a few months. In June, he warned that retail investors could exist lured into "the female parent of all crashes" by investing in cryptocurrencies and meme stocks. He tweeted:

"All hype/speculation is doing is cartoon in retail before the mother of all crashes. When crypto falls from trillions, or meme stocks fall from tens of billions, #MainStreet losses will approach the size of countries. History ain't changed."

Burry constitute fame when he called the housing marketplace'due south collapse during the global fiscal crisis and profited enormously from the subprime mortgage crunch. He was the main character in Michael Lewis' book The Big Short that later turned into an Oscar-winning movie in which he was played by Christian Bale.