ARK Invest Rotates Crypto Holdings: Bullish Gains as Coinbase Position Shrinks

Cathie Wood's ARK Invest executed a significant portfolio reallocation this week, purchasing $17.8 million in Bullish (BLSH) shares while divesting $39 million of Coinbase (COIN) stock across its flagship ETFs. The moves come as both crypto-related stocks face double-digit declines year-to-date.

The investment firm acquired 716,030 Bullish shares distributed across ARK Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF) ETFs. Bullish now represents 1.68%, 1.43%, and 2.37% of these funds respectively, despite reporting Q4 losses of $3.73 per share.

ARK's Coinbase sales mark its first reduction since August 2025, with Thursday's $17.4 million disposal followed by $22 million in Friday transactions. The sales represent a notable rotation as Coinbase shares remain down 26% year-to-date despite a recent 13% rally.

Bullish's revenue beat expectations with $92.5 million in Q4, a 68% year-over-year increase, potentially signaling ARK's conviction in the crypto exchange's growth trajectory despite its 27% price decline this year.