<h2 id="header-0">Key Facts</h2>
<ul>
 <li>Cathie Wood's Ark Invest bought about $2.44 million of Coinbase shares on Thursday, while selling roughly $2.27 million of Bullish stock and $2.28 million of Bitmine Immersion Technologies shares.</li>
 <li>Coinbase shares fell about 10% on Nov. 5 as a broader selloff hit crypto-linked equities alongside a drop in Bitcoin prices.</li>
 <li>Bitcoin traded near $75,986 at the time of writing, down about 5% over the past 24 hours and roughly 9% over the past 30 days, according to CoinMarketCap data.</li>
</ul>
Ark Invest, the asset manager run by Cathie Wood, bought additional shares of Coinbase on Thursday as the exchange operator's stock fell roughly 10% in a broader selloff of crypto-linked equities. The firm's ARKK, ARKW, and ARKF<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/exchange-traded-fund-etf"> exchange-traded funds</a> added about $2.44 million worth of Coinbase shares combined, which tracks Ark's daily trade disclosures.
<h2 id="header-1">Ark Trimmed Bullish and Bitmine Positions the Same Day</h2>
On the same day it added to its Coinbase position, Ark sold about $2.27 million of shares in crypto exchange operator Bullish and roughly $2.28 million of Bitmine Immersion Technologies. Bullish went public on the New York Stock Exchange in August 2025 with backing from investors including BlackRock and Ark. Bitmine, previously a<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/mining"> </a>Bitcoin <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/mining">mining</a> company, has pivoted to building an Ethereum (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/ethereum/">ETH</a>) treasury under the chairmanship of Fundstrat co-founder Tom Lee.
<h2 id="header-2">Bitcoin's Slide Weighed on Coinbase and Crypto Stocks</h2>
Thursday's selloff coincided with a decline in Bitcoin (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/bitcoin/">BTC</a>), which fell to about $75,986, down roughly 5% over 24 hours, while the S&amp;P 500 also fell as part of a broader pullback in equities that day. The move extended a decline that has cut Bitcoin's price by about 9% over the past 30 days and roughly 26% over the past year.
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/082afaed25764c66952f1cc9a52bc8bc.png">
Coinbase shares, which tend to move with Bitcoin's price since the exchange's revenue depends heavily on trading volume, fell alongside the wider crypto market that session. The drop in crypto-linked stocks on Nov. 5 followed a separate selloff in Coinbase shares on Oct. 30, <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/article/ark-invest-buys-coinbase-circle-trims-bullish">when Ark similarly bought COIN shares</a>, though that decline was tied to different factors earlier in the week and distinct from Thursday's broader market-wide move.
Ark Invest's flagship ARKK fund holds Coinbase as one of its larger positions and has adjusted the stake repeatedly through 2026 as crypto-linked equities swung with Bitcoin's price.
Read More:&nbsp; <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/article/bitcoin-retakes-80k-stocks-rally-democrats-election-sweep">Bitcoin Retakes $80K as Stocks Rally on Democrats’ Election Sweep</a>



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Ark Invest Buys More Coinbase as Shares Plunge Amid Crypto Rout

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