ARK trims Coinbase, BTC difficulty drops, Erebor gets US charter
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ARK Invest sold $22 million of Coinbase shares across three ETFs, Bitcoin mining difficulty declined by over 11.1% in the latest adjustment, and the United States approved a national bank charter for crypto-focused Erebor Bank.
ARK trims Coinbase holdings by $22M across three ETFs, adds to Bullish position
ARK Invest reduced its Coinbase exposure on Friday, selling $22 million in shares while increasing its stake in digital asset platform Bullish, according to the firm’s daily trade disclosures.
The firm offloaded 92,737 shares of Coinbase Global from the ARK Innovation ETF (ARKK), 32,790 shares from the Next Generation Internet ETF (ARKW), and 8,945 shares from the Fintech Innovation ETF (ARKF). In total, ARK sold 134,472 shares valued at approximately $22.1 million.
The moves follow ARK’s sale of 119,236 COIN on Thursday, worth about $17.4 million, after a brief purchase earlier in the week. Thursday’s trade marked ARK’s first Coinbase sale of 2026 and the first since August 2025.
Coinbase stock advanced during Friday’s session, closing near $165 after gaining roughly 13% on the day. Year-to-date, the shares remain down about 26%, based on Google Finance data.
Coinbase shares closed Friday up by 13%. Source: Google Finance
Bitcoin mining difficulty drops 11.1%, the steepest single adjustment since China’s 2021 crackdown
Bitcoin’s mining difficulty fell by more than 11.1% over the last 24 hours, the largest decline in a single adjustment period since China’s mining ban in 2021, according to CoinWarz.
Network difficulty stands at 125.86 T, while average block time decreased from over 11 minutes to about 9.47 minutes, CoinWarz data shows. Difficulty is projected to rise again in the next adjustment on February 20, with estimates around 132.9 T at the time of writing.
The decrease coincided with a broader market pullback that drove Bitcoin’s (BTC) price down by over 50% and a severe winter storm in the United States that disrupted energy infrastructure, temporarily lowering miner hashrate.
The Bitcoin network mining difficulty. Source: CoinWarz
OCC approves national bank charter for Erebor Bank: WSJ
The Office of the Comptroller of the Currency approved a national bank charter for Erebor Bank on Friday, enabling the institution to operate nationwide, the Wall Street Journal reported, citing people familiar with the matter. The approval marks the first newly created national bank sanctioned during President Donald Trump’s second term.
Erebor launches with about $635 million in capital and plans to serve startups, venture-backed companies, and high-net-worth clients, addressing a segment left underserved after the 2023 collapse of Silicon Valley Bank.
Backers include Andreessen Horowitz, Founders Fund, Lux Capital, 8VC, and Elad Gil. The bank was founded by Oculus co-creator Palmer Luckey, who will join the board but will not manage day-to-day operations.
Disclosure: This report is intended to provide accurate and timely information. Readers should independently verify details where appropriate.
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