Three of Ark's ETFs sold slightly over 1.41 million shares of Coinbase in late July.
The protracted Ukraine war has slashed the value of securities linked to the region.
Cooperman said buying bonds "makes no sense" with the spread between inflation and bond yields.
One strategist said the market has already priced in a mild recession for the second half of the year.
Investors have poured money into the $9.5 billion Ark Innovation ETF for eight straight days.
Investors will have to be more selective to succeed in the new environment, she said.
The AOT Growth and Innovation ETF is set to be listed at the end of next week.
“I've never seen inventory surges like this in my career," money manager Cathie Wood said.
S&P Dow Jones said Tesla has fallen behind index peers. Elon Musk called ESG a "scam."
Sanctions made trading Russian securities almost impossible, leaving short sellers unable to exit positions.