Ark Invest bought 41,453 Coinbase shares across three of its exchange-traded funds on Tuesday, worth approximately $6.9 million, according to the firm’s latest trade disclosures.
The Cathie Wood-led investment firm purchased 29,689 shares ($4.9 million) for its Innovation ETF (ARKK), 7,525 shares ($1.2 million) for its Next Generation Internet ETF (ARKW), and 4,239 shares ($704,000) for its ARK Fintech Innovation ETF (ARKF).
Ark’s investment strategy limits any individual holding to about 10% of a fund’s portfolio, ensuring diversification and prompting periodic rebalancing as position weightings shift with market movements.
The purchases mark a change in positioning after the firm reduced its Coinbase exposure earlier this month. On Feb. 5 and Feb. 6, Ark sold a combined 119,236 shares worth roughly $17.4 million as crypto-linked equities faced a broad market decline. During that period, the firm reallocated capital into the crypto exchange Bullish, executing a buying streak that extended for more than 10 consecutive trading days through mid-February, The Block previously reported.
According to the firm’s disclosures, COIN is now the seventh-largest holding within its ARKK ETF, with a weighting of 4%, worth around $251.5 million, as of Feb. 18. COIN is also the seventh-largest holding in its ARKW fund at 3.7%, worth $57.4 million. Coinbase shares represent Ark’s third-largest holding in its ARKF fund at 5.6%, worth $44.6 million.
Coinbase earnings
Ark’s latest buys come as investors digest Coinbase’s fourth-quarter 2025 financial results. The company recently reported $1.8 billion in total revenue, down 5% from the third quarter, and swung to a net loss of $667 million after posting a profit in the prior period. The loss was primarily attributed to $718 million in unrealized losses on its crypto investment portfolio and $395 million in losses on strategic investments.
Following the earnings report, Bernstein analysts led by Gautam Chhugani maintained an outperform rating on Coinbase with a $440 price target, representing 212% upside from the stock’s Feb. 12 closing price of $141.09.
Coinbase shares closed up 1% on Tuesday at $166.02, according to The Block’s COIN price page, with the stock gaining 8.4% over the past five trading days. However, it remains down 28% year-to-date and 56% off its all-time high peak.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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