ARK Invest Sells Coinbase Shares, Buys Bullish Stock

ARK Invest shifted from buying to selling Coinbase stock after the shares dipped 13% to multi-month lows. A trade filing shows ARK offloaded 119,236 Coinbase shares valued at roughly $17.4 million. The sale followed a 3,510-share ($630,000) purchase a day earlier and a series of buys at higher prices earlier in 2026.

It was ARK’s first Coinbase sale of 2026 and its first since August 2025. ARK used almost the same proceeds to acquire 716,030 shares of Bullish, spending about $17.8 million. Bullish is an institution-focused digital asset platform that listed on the NYSE in August 2025.

Since its trading launch, Bullish shares had slumped more than 60% to $24.9 on Thursday’s close. ARK was one of the largest buyers of Bullish’s IPO, alongside BlackRock. Coinbase’s stock has fallen around 37% year-to-date and about 60% since its April 2021 trading debut from an opening price of $381.