ARK Invest, led by Cathie Wood, made a significant $15.2 million purchase of Coinbase Global (COIN) stock on Friday, February 14, 2026, reversing a recent trend of selling. The asset manager acquired shares across three of its exchange-traded funds: 66,545 shares via the ARK Innovation ETF (ARKK), 16,832 shares through the Next Generation Internet ETF (ARKW), and 9,477 shares using the Fintech Innovation ETF (ARKF).
The purchase coincided with a 16.4% surge in Coinbase's share price, which closed at $164.32 for the day and continued to climb in after-hours trading. This move marks a sharp pivot from just days earlier, when ARK sold approximately $17.4 million worth of Coinbase shares on February 5 and another $22 million on February 6, while increasing its position in the digital asset platform Bullish.
The timing is notable as it follows Coinbase's disappointing fourth-quarter 2025 earnings report. The exchange posted a net loss of $667 million, ending an eight-quarter profitability streak. Earnings per share of 66 cents missed analyst estimates of 92 cents, and net revenue declined 21.5% year-over-year to $1.78 billion. Transaction revenue fell sharply by nearly 37% to $982.7 million, reflecting cooler crypto trading volumes.
However, the earnings report contained a silver lining: subscription and services revenue rose more than 13% to $727.4 million, indicating progress in diversifying revenue away from transaction fees. Coinbase management noted it generated $420 million in transaction revenue early in Q1 2026 but expects subscription and services revenue to decline in the current period.
ARK's renewed investment is interpreted as a strategic bet on Coinbase's long-term potential and a possible signal of confidence in a broader crypto market rebound. Alongside the Coinbase purchase, ARK also increased its stake in Roblox Corporation on the same day.
