Cathie Wood Loads Up On Bullish After Earnings, Sells Coinbase

• Bullish reported a Q4 loss of $3.73 per share, beating analyst expectations of a $4.03 loss, despite a 2.6% decline in digital asset sales to $64.3 billion
• The purchases were made across three ARK ETFs (ARKK, ARKW, ARKF), with Bullish now representing between 1.43% and 2.37% of each fund's holdings
• BLSH stock had fallen nearly 18% in February and was headed for a fourth consecutive month of steep losses before rebounding 5.6% following the ARK purchases

Summary: Cathie Wood Loads Up On Bullish After Earnings, Sells Coinbase

Cathie Wood's ARK Invest purchased 716,030 shares of Bullish (BLSH) on Thursday across three ETFs—ARK Innovation (ARKK), ARK Next Generation Internet (ARKW), and ARK Blockchain & Fintech Innovation (ARKF). The purchases totaled approximately $17.83 million based on Bullish's closing price of $24.90. The stock had declined nearly 18% in February, marking its fourth consecutive month of steep losses.

Simultaneously, ARK sold 119,236 shares of Coinbase (COIN) across the same three funds, valued at $17.42 million based on COIN's closing price of $146.12. Coinbase represents 3.7% of ARKK, 3.44% of ARKW, and 4.95% of ARKF (the third-largest holding).

The Bullish purchase followed the company's Q4 earnings report, which exceeded expectations. Bullish posted a loss of $3.73 per share, better than the anticipated loss of $4.03. However, digital asset sales declined 2.6% to $64.3 billion.

Market Context: Cryptocurrency stocks rebounded Friday as Bitcoin appeared to stabilize after significant losses triggered by President Trump's announcement of Kenneth Warsh as the new Federal Reserve chair. Bitcoin fell to a 16-month low of $60,074 on Thursday before recovering to approximately $68,200 on Friday—still down roughly 18% over the week.

BLSH stock rose 5.6% Friday morning following an 8.5% Thursday decline, while Coinbase surged over 6% after dropping 13.3% the previous day. The moves reflect broader volatility in the cryptocurrency sector amid regulatory and macroeconomic uncertainty.