ARK Sells $17M Coinbase Stake, Buys $18M Bullish as Crypto Slides

Published at 2026-02-06 11:45:23

ARK Investment reduced its position in Coinbase by about $17 million and increased exposure to Bullish by roughly $18 million on Friday, a reshuffle that came as crypto markets turned sharply lower. Coinbase (COIN) plunged 13.34% to close at $146.12, tracking bitcoin's fall to around $60,000 — the weakest level since November 2024 — and amplifying declines across exchange-focused equities.

The trade reads as a tactical reallocation amid heightened volatility: it could be interpreted as a vote of confidence in Bullish or simply risk management as prices tumble. For investors, the simultaneous drop in COIN and bitcoin raises the odds of continued short-term swings in crypto-linked stocks; the longer-term impact will hinge on whether digital-asset prices stabilize and on ongoing regulatory developments.

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Mastercard unveiled a program with more than 85 participants aimed at keeping stablecoin transactions flowing through its card and payment rails. The initiative pools crypto-native firms, banks, exchanges and infrastructure providers to integrate stablecoins into existing payment flows.

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