ARK Invest Shifts $17 Million from Coinbase to Bullish Shares

TLDR

• ARK sold 119,000 Coinbase shares for $17.4 million.
• Invested $1.83 million in Bullish shares on February 6, 2026.
• Bullish experienced a 68% year-over-year sales growth.

ARK Invest, led by Cathie Wood, has made significant changes to its investment portfolio. The firm shifted approximately $17-18 million from Coinbase shares to Bullish shares through its exchange-traded funds (ETFs). This move includes a recent purchase of about $1.83 million in Bullish shares as part of their ongoing trades.

This transaction occurred around February 6, 2026. ARK bought 716,000 Bullish shares, equivalent to approximately $17-18 million, while selling 119,000 Coinbase shares, worth about $17.4 million, in one set of trades. Additional Bullish acquisitions involved 393,057 shares valued at $9.79 million, including the noted $1.83 million increment. These trades were executed via ARK’s Innovation ETF, Next Generation Internet ETF, and Fintech Innovation ETF.

Key Figures and Fund Allocation

Cathie Wood, the CEO and CIO of ARK Invest, is known for her focus on innovative technologies. She founded ARK Invest in 2014 to invest in sectors like blockchain and cryptocurrency. ARK Invest has held substantial positions in Coinbase since its IPO in 2021, maintaining confidence in crypto infrastructure despite market fluctuations.

According to the latest trade filings, ARK allocated approximately $17-27 million net to Bullish shares from Coinbase sales. Despite these shifts, Coinbase remains a larger position in ARK’s funds post-sale. This suggests a diversification strategy rather than a complete exit from the cryptocurrency sector.

Impact on Affected Assets

Primarily affected are Coinbase (COIN) stock and Bullish (BLSH) stock. There is no indicated direct impact on cryptocurrencies such as Ethereum, Bitcoin, or altcoins. However, ARK views Coinbase as a leveraged position within the broader crypto market, while Bullish benefits from notable revenue growth, highlighted by a 68% year-over-year increase in sales.

No on-chain data, such as changes in total value locked (TVL), liquidity shifts, or staking flows, are available for Bullish or related protocols. This is due to Bullish operating its blockchain without external data tracking.

Analysis of Past and Similar Events

These transactions are part of ARK’s ongoing strategy, involving a series of Coinbase reductions. Most notably, ARK sold 134,472 Coinbase shares for $19.6 million on February 6, 2026. These moves reflect broader portfolio adjustments amid crypto’s volatile landscape. Historically, ARK reduced Coinbase holdings during the 2022 bear market, maintaining a belief in long-term crypto prospects.

Consequential impacts have included temporary stock dips while preserving sustained sector exposure. This approach outlines ARK’s method of adapting to market conditions while keeping a foothold in growth names like Bullish.

Overview of Related Cryptocurrencies

The trades involve COIN and BLSH as crypto exchange stocks. There are indirect ties to Bitcoin and Ethereum through trading volumes. However, no specific altcoin impacts are noted. The absence of detailed information on governance tokens, DeFi protocols, or Layer 1/Layer 2 assets is clear in this context.

No key opinion leader (KOL) quotes, such as from Arthur Hayes or Vitalik Buterin, are available. Regulatory updates from SEC, CFTC, or ESMA, and community sentiment data from platforms like GitHub, Twitter, or Reddit, are not provided. Therefore, the trades mainly signal institutional confidence in diversified crypto infrastructure.