Founded by Cathie Wood, ARK Invest is known for its thematic investment funds focusing on technology companies with disruptive innovation and high growth potential. The company is known for its early-stage investments in areas such as artificial intelligence, genomics, robotics and digital assets. ARK’s decisions are closely watched by the market, both due to its active management style and large position changes.
$22 Million New Sale on Coinbase
ARK Invest once again reduced its position in Coinbase Global shares on Friday. The company sold a total of 134,472 shares, including 92,737 shares from the ARK Innovation ETF, 32,790 shares from the Next Generation Internet ETF and 8,945 shares from the Fintech Innovation ETF. The total value of these transactions was approximately $22.1 million. The sale was a continuation of ARK’s change of direction after making a short-term purchase during the week.
ARK’s Change of Direction and Previous Day’s Transactions
Friday’s transactions follow ARK’s sale of 119,236 Coinbase shares the day before. This sale was recorded as the company’s first Coinbase exit in 2026 and its first sale since August 2025. Thus, ARK moved towards reducing risk again after a short-term buying move.
Strong Daily Rise in Coinbase Shares
Despite the sell-off, Coinbase shares made a significant recovery in the Friday session, gaining nearly 13 percent in value, closing the day at around $165. However, the stock is down 26 percent since the beginning of the year. The strong daily rise showed that short-term price movements and ARK’s longer-term portfolio choices do not always move in the same direction.
ARK, which reduced its position in Coinbase, increased its share in Bullish on the same day. The company purchased 278,619 shares through the ARKK fund, 70,655 through ARKW and 43,783 through ARKF. A total of 393,057 shares were accumulated, valuing these purchases at approximately $10.7 million. Bullish shares closed the trading day at about $27 and were up about 10 percent; However, it remains behind by 27 percent since the beginning of the year.
Bullish posted a net loss of $563.6 million in the fourth quarter of 2025; This equates to a loss of $3.73 per diluted share. The company reported a profit of $158.5 million in the same period a year ago. This sharp turn revealed how the weakness in digital asset markets was reflected in financial results.
“Actively adjusting portfolios is critical to maintaining long-term innovation themes in volatile market conditions.”
Aside from crypto-focused transactions, ARK has also made other changes to its portfolio. While the company increased its shares of Alphabet, Recursion Pharmaceuticals and Tempus AI; It has reduced its positions in some high-growth tech companies like Roku, The Trade Desk and PagerDuty. These moves are considered part of the effort to rebalance the funds’ risk allocation.
The decline in digital asset markets in the fourth quarter also put ARK’s flagship funds under pressure. Weakness related to Coinbase in particular dragged down the performance of ARKK, ARKW, and ARKF. During the same period, transaction volumes on central exchanges decreased by 9 percent compared to the previous quarter; Coinbase shares fell nearly 35 percent from October to the end of the year, underperforming Bitcoin in the same period.
