- Ark Invest sold another $22 million worth of Coinbase shares on Friday, continuing a reversal after a brief purchase earlier in the week.
- The firm simultaneously boosted its stake in Bullish, buying $10.7 million of the crypto platform’s shares across several ETFs.
- Both stocks rallied during Friday’s session by 13% and 10% respectively, despite being down significantly for the year-to-date.
ARK Invest, led by Cathie Wood, executed significant crypto portfolio adjustments on Friday, reducing its substantial position in Coinbase while adding to an emerging position in Bullish. The investment firm sold 134,472 COIN shares worth approximately $22.1 million across three separate funds, including its flagship ARK Innovation ETF.
Consequently, this sale continued a strategic pivot that began on Thursday. ARK’s latest transactions mark its second consecutive day of divesting from the major crypto exchange after a purchase earlier in the week.
Meanwhile, ARK purchased 393,057 shares of Bullish valued at $10.7 million. This accumulation occurred as Bullish stock rose roughly 10% during the Friday trading session, according to market data. However, the digital asset platform recently reported a net loss of $563.6 million for Q4 2025.
Coinbase shares also climbed about 13% on Friday, closing near $165. The stock remains down 26% for the year, however, pressured by declining centralized exchange volumes.
ARK’s quarterly report noted that weakness in crypto-linked companies hurt several of its flagship funds. Company filings showed a 9% quarterly drop in exchange trading volumes after October’s liquidation event.
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