ARK Invest cuts Coinbase as it reworks crypto holdings
Cathie Wood’s ARK Invest kept trimming its exposure to Coinbase on Friday, unloading about $22 million of the crypto exchange’s shares across three exchange-traded funds even as the stock surged in the session. At the same time, the firm increased its stake in digital-asset platform Bullish, signaling a continued rotation within crypto-linked equities.
ARK extends Coinbase selling across flagship ETFs
According to ARK’s daily trade disclosures, the manager sold 92,737 shares of Coinbase Global from the ARK Innovation ETF (ARKK), 32,790 shares from the Next Generation Internet ETF (ARKW) and 8,945 shares from the Fintech Innovation ETF (ARKF) — 134,472 shares in total, valued at about $22.1 million, Cointelegraph report.
Industry data showed that Coinbase shares surged on Friday, closing at around $165, up roughly 13% on the day, though they remain down about 26% year to date.
Coinbase shares still rose sharply Friday, closing at about $165, up roughly 13% on the day, though the stock remained down about 26% year-to-date, the report said.
Bullish additions point to a rotation, not an exit
While reducing Coinbase, ARK added Bullish across the same three ETFs, buying 278,619 shares in ARKK, 70,655 in ARKW and 43,783 in ARKF — 393,057 shares total, worth about $10.7 million.
Bullish shares ended near $27, up about 10% on the day, but were down about 27% year-to-date, according to the report. The company posted a $563.6 million net loss in the fourth quarter of 2025, or $3.73 per diluted share, reversing a $158.5 million profit a year earlier.
Alongside the crypto-related trades, ARK added Alphabet, Recursion Pharmaceuticals and Tempus AI, while cutting positions in growth names including Roku, The Trade Desk and PagerDuty, according to the report.
Read also: Markets reprice Fed outlook ahead of March meeting
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