Reduced coin weight and increased bullishness
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ARK disclosed in a trading disclosure today that it sold 134,472 shares of Coinbase stock across three exchange-traded funds (ETFs): the ARK Innovation ETF (ARKK), the Next Generation Internet ETF (ARKW), and the Fintech Innovation ETF (ARKF). The sale was valued at approximately $22.1 million (KRW 32.4 billion).
Coinbase Sell History by ETF
Specifically, 92,737 shares of Coinbase were sold off by ARKK, 32,790 shares by ARKW, and 8,945 shares by ARKF. This sale follows a short-term purchase of Coinbase shares by ARK earlier in the week, followed by a sale of approximately $17.4 million (KRW 25.5 billion) on the 6th.
The sale marks the first Coinbase sale since 2026, and the first time ARK has sold its shares since August. Coinbase shares closed the same day on the New York Stock Exchange, up about 13%, at around $165, but are still down about 26% since the beginning of the year.
Bullish stocks are being bought in large quantities
Meanwhile, ARK expanded its investment in the cryptocurrency platform Bullish. On the 8th, ARK acquired 278,619 shares of Bullish from ARKK, 70,655 shares from ARKW, and 43,783 shares from ARKF, securing a total of 393,057 shares. The purchase price was approximately $10.7 million (KRW 15.66 billion).
Bullish's stock price rose about 10% during the day's trading, closing around $27. However, Bullish recorded a net loss of $563.6 million (KRW 825.2 billion) in the fourth quarter of 2025, swinging from a profit of $158.5 million in the same period the previous year to a loss.
Cryptocurrency weakness continues to weigh on the ARK ETF.
ARK recently adjusted its cryptocurrency holdings, adding shares of Alphabet, Recursion Pharmaceuticals, and Tempus AI, while reducing its exposure to high-growth tech stocks like Roku, The Trade Desk, and PagerDuty.
Cointelegraph reported in early February that the weak cryptocurrency market in Q4 2025 weighed on the performance of ARK's major ETFs, including ARKK, ARKW, and ARKF. Coinbase's stock price fell roughly 35% during the period, underperforming Bitcoin (BTC), and centralized exchange trading volumes fell 9% quarter-over-quarter.
ARK's recent moves are interpreted as a trend toward maintaining long-term optimism about the cryptocurrency industry as a whole, while strengthening its strategy of selection and concentration on individual stocks and platforms.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
