After trimming its exposure earlier this month, ARK Invest has returned to buying shares of Coinbase Global, signaling renewed confidence in the crypto exchange despite recent volatility in both the stock and the wider digital asset market.
ARK Returns to Buying After Brief Exit
The investment firm led by Cathie Wood added nearly $15.2 million worth of Coinbase shares on Friday, reversing course just days after selling more than $39 million in stock. According to ARK’s daily trading disclosures, the purchases were spread across three actively managed exchange-traded funds.
The largest allocation came through the ARK Innovation ETF, which picked up 66,545 shares. The ARK Next Generation Internet ETF added 16,832 shares, while the ARK Fintech Innovation ETF bought 9,477 shares.
Together, the trades marked a clear shift in stance after ARK spent much of the previous week reducing its Coinbase holdings.
Stock Rally Boosts Value of Purchases
ARK’s renewed buying coincided with a sharp rally in Coinbase shares. The stock closed the session at $164.32, gaining about 16.4 percent on the day before edging slightly higher in after-hours trading, based on data from Google Finance.
The surge meant that ARK’s combined purchase across its ETFs amounted to roughly $15.2 million by the end of the trading day. The timing suggests ARK moved quickly to re-enter the stock as momentum turned positive following weeks of pressure on crypto-related equities.
Roblox Also Added to Portfolios
Alongside Coinbase, ARK also increased its exposure to Roblox Corporation. Shares of the gaming platform were added across ARKK, ARKW and ARKF. Roblox closed near $63.17 on Friday on the New York Stock Exchange, continuing a period of relative strength for the stock compared with many growth names.
The dual purchases suggest ARK is selectively adding to high-conviction technology and platform businesses after trimming positions earlier in the year.
Recent Coinbase Sell-Off Still Fresh
The latest buying comes shortly after ARK cut its Coinbase exposure for the first time in 2026. On Feb. 5, the firm sold around $17.4 million worth of Coinbase shares, marking its first reduction since August 2025. A day later, ARK followed up with another sale totaling roughly $22 million across several ETFs.
During that same period, ARK increased its stake in digital asset trading platform Bullish, indicating a partial reallocation within the crypto sector rather than a full retreat.
Coinbase was also one of the biggest drags on ARK’s performance in the fourth quarter of 2025, as a broader pullback in crypto markets weighed on exchange-related stocks. During the quarter, Coinbase shares fell more sharply than both Bitcoin and Ether.
Earnings Pressure Weighs on Sentiment
Adding to the volatility, Coinbase recently reported a net loss of $667 million in the fourth quarter of 2025, ending an eight-quarter streak of profitability. Earnings per share came in at 66 cents, below analyst expectations of 92 cents. Net revenue declined 21.5 percent year over year to $1.78 billion.
Transaction revenue dropped nearly 37 percent to $982.7 million, reflecting lower trading activity across crypto markets. This weakness was partially offset by growth in subscription and services revenue, which rose more than 13 percent to $727.4 million.
Coinbase said it generated $420 million in transaction revenue early in the first quarter but warned that subscription and services revenue is expected to decline, highlighting continued uncertainty around near-term performance.
Despite these headwinds, ARK’s latest move suggests the firm sees value in Coinbase at current levels, especially as crypto markets show signs of stabilizing.
