ARK Invest Trims Coinbase Exposure, Boosts Position in Bullish – A Look at the Latest ETF Rebalancing
February 8 2026 – Cointelegraph
Cathie Wood’s ARK Invest continued its recent portfolio reshuffle on Friday, off‑loading roughly $22 million of Coinbase Global (COIN) shares while simultaneously increasing its stake in the digital‑asset platform Bullish across three of its flagship exchange‑traded funds (ETFs).
What the trades reveal
| ETF | Coinbase shares sold | Bullish shares bought |
|---|---|---|
| ARK Innovation (ARKK) | 92,737 | 278,619 |
| Next Generation Internet (ARKW) | 32,790 | 70,655 |
| Fintech Innovation (ARKF) | 8,945 | 43,783 |
| Total | 134,472 shares (~$22.1 M) | 393,057 shares (~$10.7 M) |
The disposition of Coinbase stock marks ARK’s second sale of the cryptocurrency exchange in the first week of 2026. The prior transaction, executed on Thursday, involved 119,236 shares valued at about $17.4 million – the firm’s first Coinbase sale since August 2025.
In contrast, the acquisition of Bullish added roughly $10.7 million to ARK’s holdings, bringing the total number of Bullish shares across the three funds to just under 400 k. Bullish closed Friday near $27 per share, up roughly 10% on the day, though it remains down about 27% for the year after reporting a $563.6 million net loss for Q4 2025.
Market context
Coinbase’s stock rallied sharply on Friday, finishing the session near $165 after a 13% intraday gain. Despite the bounce, the shares are still down about 26% year‑to‑date, reflecting broader weakness in centralized‑exchange trading volumes, which fell 9% quarter‑over‑quarter following a liquidity squeeze in October. The stock’s decline of nearly 35% from its October peak outpaced the performance of Bitcoin and Ether over the same period.
Bullish, a newer entrant in the crypto‑services space, has been trading with heightened volatility. The company posted a sizable Q4 2025 loss, reversing a profit year earlier, which explains its steep YTD slide despite the recent price uptick.
Analyst takeaways
| Takeaway | Implication |
|---|---|
| ARK is de‑risking its exposure to Coinbase | The firm appears to be responding to the exchange’s underperformance and the broader pullback in digital‑asset‑related equities that has pressured its flagship ETFs. |
| Bullish receives a vote of confidence | By increasing its allocation, ARK signals belief in Bullish’s long‑term growth potential, possibly betting on the platform’s role in the evolving crypto‑infrastructure landscape. |
| ETF performance remains tied to crypto sentiment | Weakness in crypto‑centric holdings, especially Coinbase, has been a key drag on ARKK, ARKW and ARKF in the most recent quarter. Future ETF returns will likely hinge on whether the sector can recover trading volumes and profitability. |
| Diversification continues | Alongside the Coinbase‑Bullish moves, ARK added positions in Alphabet, Recursion Pharmaceuticals and Tempus AI, while trimming exposure to high‑growth tech names such as Roku, The Trade Desk and PagerDuty, indicating a broader rebalancing toward more diversified growth bets. |
Outlook
The short‑term trajectory for ARK’s crypto‑focused ETFs will be heavily influenced by two factors:
- Recovery of exchange trading volumes – If centralized exchanges regain user activity and revenue streams, Coinbase could stabilize, reducing the need for further sell‑downs.
- Bullish’s path to profitability – Continued cash‑burn could pressure the stock, but successful rollout of new products or partnerships could justify ARK’s increased exposure.
Investors tracking ARK’s moves should monitor both the performance of its core crypto holdings and the firm’s broader reallocation strategy, as these decisions often presage shifts in sector sentiment.
The information above is compiled from ARK’s latest trade disclosures and market data reported by Cointelegraph. Readers are encouraged to verify details independently.
Source: https://cointelegraph.com/news/ark-sells-22m-coinbase-adds-bullish-across-etfs?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
