Ark Invest, led by prominent tech investor Cathie Wood, adjusted its crypto-related holdings on Thursday as market volatility weighed heavily on digital asset stocks. The firm added to its position in Bullish while trimming its exposure to Coinbase, signaling a tactical reshuffle rather than a broad retreat from the sector.
According to Ark’s daily trading disclosures, the investment manager purchased a combined 716,030 shares of Bullish across three of its exchange-traded funds. The acquisitions were valued at approximately $17.8 million based on Thursday’s closing prices. At the same time, Ark sold 119,236 shares of Coinbase, representing roughly $17.4 million in value, resulting in a near dollar-for-dollar reallocation.
The trades came during a difficult session for crypto-linked equities. Shares of Bullish closed down 8.5% at $24.90, extending their decline to nearly 40% over the past month. Coinbase also faced sharp pressure, falling 13.3% on the day to $146.12 and pushing its monthly losses to more than 41%.
The weakness in crypto stocks reflected renewed turbulence in the broader digital asset market. Bitcoin briefly slipped to around $60,000 on Thursday before recovering above $65,000 on Friday, while ether dropped roughly 11.6% over the past 24 hours to trade near $1,900, according to market data.
Ark Invest has long been an active participant in crypto and blockchain-related investments, frequently adjusting its portfolio in response to market moves. The latest trades suggest the firm is fine-tuning its exposure during a period of heightened volatility, rather than making a decisive shift away from the sector.
