ARK offloads $17 million of Coinbase, adds $18 million of Bullish amid crypto rout
Analysis
Price Impact
HighThe article explicitly states a 'crypto rout' with bitcoin falling as low as $60,000, its lowest since november 2024. ark invest's decision to offload $17 million in coinbase stock during this downturn, despite adding to bullish, indicates a cautious or potentially bearish sentiment on established crypto-adjacent assets, amplifying the overall negative market mood.
Trustworthiness
HighArk invest is a well-known and reputable institutional investor. their public trading actions are transparent and provide a significant signal to the market, especially during periods of high volatility.
Price Direction
BearishThe primary driver is the 'tanking of the crypto market' and bitcoin's fall to $60,000. ark's move to sell coin shares amidst this rout, even while rebalancing, suggests a lack of immediate confidence in the broader market's recovery, further reinforcing bearish sentiment.
Time Effect
ShortThe news details an immediate 'crypto rout' and ark's reactive trading decisions during this period. such events typically cause immediate market reactions and shifts in short-term sentiment.
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Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email ARK offloads $17 million of Coinbase, adds $18 million of Bullish amid crypto rout COIN lost 13.34% on the day to close at $146.12 amid ongoing tanking of the crypto market which has seen bitcoin fall as low as $60,000, its lowest since November 2024. By Jamie Crawley | Edited by Oliver Knight Feb 6, 2026, 11:42 a.m. Make us preferred on Google Ark Invest's Cathie Wood (Danny Nelson, modified by CoinDesk) What to know : ARK Invest sold $17.4 million worth of Coinbase (COIN) stock and bought a similar amount in Bullish (BLSH) stock on Thursday as crypto equities were routed. It is common to see ARK Invest make sizeable purchases of crypto-adjacent companies when their prices slide. However, it is somewhat rarer to see ARK use this as a window to offload shares in a major crypto holding such as Coinbase. In this article BTC BTC $ 66,093.06 ◢ 5.92 % ARK Invest sold $17.4 million worth of Coinbase (COIN) stock and bought a similar amount in Bullish (BLSH) stock on Thursday as crypto equities were routed. Cathie Wood's investment management company sold 119,236 COIN shares, worth $17.4 million as of Thursday's close. COIN lost 13.3% on the day to close at $146.12 amid ongoing tanking of the crypto market which has seen bitcoin BTC $ 66,093.06 fall as low as $60,000, its lowest point since November 2024 . STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . ARK also bought 716,030 shares in crypto exchange Bullish, according to an emailed disclosure. The shares are worth $17.8 million, based on BLSH's closing price of $24.90, nearly 8.5% lower on the day . Bullish is also the parent company of CoinDesk. It is common to see ARK Invest make sizeable purchases of crypto-adjacent companies when their prices slide due to broader downturns in the cryptocurrency market. The Florida-based company attempts to capitalize on the chance to capture greater value from equities and rebalance the holdings of its funds to reflect the different prices. However, it is somewhat rarer to see ARK use this as a window to offload shares in a major crypto holding such as Coinbase. ARK Invest Bullish Coinbase In this article BTC BTC $ 66,093.06 ◢ 5.92 %