ARK Invest, led by Cathie Wood, sold 119,236 Coinbase shares as the stock dropped 13% to multi-month lows. This is ARK’s first Coinbase sale of 2026 and first since August 2025. They purchased 716,030 shares in Bullish for $17.8 million. Coinbase stock is down 37% year-to-date, currently at $60,000.

Despite the crypto market pullback, ARK still holds $312 million in Coinbase shares. The stock has fallen 60% since its April 2021 debut. Bullish shares slumped over 60% to $24.9. ARK’s move from buying to selling Coinbase stock marks a notable reversal. BlackRock was also a major buyer of Bullish’s IPO.

Read more at Cointelegraph: ARK Invest Sells Coinbase And Buys Bullish Shares