Cathie Wood’s ARK Invest continued to reduce its exposure to cryptocurrency exchange Coinbase on Friday, unloading $22 million worth of shares across multiple ETFs while strengthening its position on digital asset platform Bullish.
According to ARK’s trading disclosure, the company 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). The total transaction included 134,472 shares worth approximately $22.1 million.
The selling occurred when ARK Invest, led by Cathie Wood, reversed course on Coinbase, selling 119,236 COIN worth about $17.4 million on Thursday, following a miniature purchase earlier in the week. Thursday’s sale was the company’s first Coinbase sale of 2026 and first since August 2025.
Meanwhile, Coinbase shares rose during Friday’s session, closing at around $165 after gaining about 13% on the day. However, the stock exchange shares are still losing 26% since the beginning of the year (YTD), According to to data from Google Finance.
Related: Cathie Wood’s ARK Boosts Crypto Stocks Amid Stock Pullback
ARK increases bullish rate
At the same time, ARK accumulated Bullish shares in multiple funds. The investment manager purchased 278,619 shares of ARKK, 70,655 shares of ARKW and 43,783 shares of ARKF, accumulating a total of 393,057 shares worth $10.7 million.
The bull stock ended the trading day near $27, up about 10%. However, the company’s shares are down 27% since the beginning of the year reported a net loss of $563.6 million, or $3.73 per diluted share, in the fourth quarter of 2025, a reversal of a profit of $158.5 million reported a year earlier.
In addition to cryptocurrency moves, ARK added Alphabet, Recursion Pharmaceuticals and Tempus AI, while reducing exposure to several fast-growing tech companies including Roku, The Trade Desk and PagerDuty.
Related: Cathie Wood’s ARK Adds Coinbase, Circle, Bullish as Crypto Slides
Crypto crisis weighs on ARK ETFs
As Cointelegraph reports, the fourth-quarter decline in digital asset markets hurt several of Cathie Wood’s ARK ETFs. In its latest quarterly report, ARK said weakness in digital asset companies, particularly Coinbase, was a major headwind for its flagship funds, including ARKK, ARKW and ARKF.
Coinbase shares fell more sharply than major cryptocurrencies during this period as trading volume on centralized exchanges fell 9% quarter-over-quarter after the October liquidation. From October to the end of the year, the company’s shares fell almost 35%, underperforming both Bitcoin (BTC) and Ether (ETH).
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