ARK Invest Sells Coinbase Shares

ARK Invest, the investment firm led by Cathie Wood, sold shares of crypto exchange Coinbase for the first time in 2026. The move came as Coinbase’s stock slid to multi-month lows.

On Thursday, ARK sold 119,236 Coinbase shares worth about $17.4 million. This followed a modest purchase just a day earlier of 3,510 shares valued at roughly $630,000. Earlier in 2026, the firm had been steadily buying Coinbase at higher prices.

It marked ARK’s first Coinbase sale since August 2025. Since the start of the year, the stock has fallen around 30%, according to data from Nasdaq.

At the same time, ARK redirected nearly all of the proceeds into shares of Bullish. The firm bought 716,030 shares of the institutionally focused platform for about $17.8 million. Bullish debuted on the New York Stock Exchange in August 2025, but its shares have dropped more than 60% since listing and closed at $24.9 on Thursday.

ARK was among the largest investors in Bullish’s public offering, alongside BlackRock.

Despite the recent sale, ARK still holds Coinbase shares worth $312 million across three of its funds. Since its April 2021 IPO, Coinbase stock has declined about 60% from its $381 opening price.

A likely driver behind the move is the sharp correction in the crypto market, which has intensified in recent days. Falling Bitcoin prices and mounting pressure on crypto-related companies may have prompted ARK to temporarily reduce exposure to Coinbase and shift capital to another player in the same sector. The firm’s continued sizable stake in Coinbase suggests this is not a full exit, but rather a tactical adjustment in response to deteriorating market conditions.