Cathie Wood Continues To Boost Coinbase Stock Holds Despite Over 20% Price Drop
Key Points:
- Cathie Wood-led ARK Invest increased its stake in the crypto trading platform Coinbase.
- ARK-managed funds purchased roughly 157,000 shares in Coinbase for $8.59 million.
- Coinbase filed a limited federal court lawsuit to force the SEC to offer advice to the cryptocurrency market.
Ark Invest, a US investment management business led by CEO Cathie Wood, increased its stake in Coinbase Global Inc. yesterday, the same day the US-based cryptocurrency exchange revealed it was suing the Securities and Exchange Commission.
Cathie Wood’s Ark Invest upped its Coinbase shares holdings by roughly $8.6 million yesterday. The Ark Innovation ETF increased its holdings in Coinbase stock by 122,083 shares, while the Ark Next Generation Internet ETF increased its holdings by 20,327 shares and the ARK Fintech Innovation ETF increased its holdings by 14,633 shares.
At current prices, the total value of the shares acquired is roughly $8.6 million.
Wood, the founder, chief investment officer, and CEO of ARK Investment Management in St. Petersburg, Florida, has created a reputation for herself by investing in “disruptive innovation” firms. ARK Investment aspires to invest in firms that may profit from cross-sector advances such as artificial intelligence, robots, energy storage, DNA sequencing, and blockchain technology using an iterative method that blends top-down and bottom-up research.
Wood’s performance has worsened over the last two years as a high-flying tech and growth companies have taken a bite. It hasn’t prevented her from exploring for new opportunities.
According to the guru’s 13F filing for the three months ending March 31, she acquired six new holdings, sold out of 17 securities, and increased or decreased the number of other existing stakes. Her most prominent moves were selling Exact Sciences and Twilio shares while increasing bets on Coinbase Global, Tesla, and Block.
Wood’s ARK Investment Management bought Coinbase shares on the same day that the business filed a limited federal court case to force the Securities and Exchange Commission (SEC) to utilize its formal rulemaking process to give advice to the crypto sector.
It seeks to compel the agency to respond positively or negatively to Coinbase’s request that the commission writes and adopt a digital asset-specific regulation. If the SEC refuses to create a new regulation, Coinbase may launch another action in federal court to compel the SEC to do so.
Coinbase shares finished over 7.2% on Monday and have lost more than 22% in the previous five days, making it a viable target for bottom-fishing.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Author
News
Cathie Wood Continues To Boost Coinbase Stock Holds Despite Over 20% Price Drop
Key Points:
- Cathie Wood-led ARK Invest increased its stake in the crypto trading platform Coinbase.
- ARK-managed funds purchased roughly 157,000 shares in Coinbase for $8.59 million.
- Coinbase filed a limited federal court lawsuit to force the SEC to offer advice to the cryptocurrency market.
Ark Invest, a US investment management business led by CEO Cathie Wood, increased its stake in Coinbase Global Inc. yesterday, the same day the US-based cryptocurrency exchange revealed it was suing the Securities and Exchange Commission.
Cathie Wood’s Ark Invest upped its Coinbase shares holdings by roughly $8.6 million yesterday. The Ark Innovation ETF increased its holdings in Coinbase stock by 122,083 shares, while the Ark Next Generation Internet ETF increased its holdings by 20,327 shares and the ARK Fintech Innovation ETF increased its holdings by 14,633 shares.
At current prices, the total value of the shares acquired is roughly $8.6 million.
Wood, the founder, chief investment officer, and CEO of ARK Investment Management in St. Petersburg, Florida, has created a reputation for herself by investing in “disruptive innovation” firms. ARK Investment aspires to invest in firms that may profit from cross-sector advances such as artificial intelligence, robots, energy storage, DNA sequencing, and blockchain technology using an iterative method that blends top-down and bottom-up research.
Wood’s performance has worsened over the last two years as a high-flying tech and growth companies have taken a bite. It hasn’t prevented her from exploring for new opportunities.
According to the guru’s 13F filing for the three months ending March 31, she acquired six new holdings, sold out of 17 securities, and increased or decreased the number of other existing stakes. Her most prominent moves were selling Exact Sciences and Twilio shares while increasing bets on Coinbase Global, Tesla, and Block.
Wood’s ARK Investment Management bought Coinbase shares on the same day that the business filed a limited federal court case to force the Securities and Exchange Commission (SEC) to utilize its formal rulemaking process to give advice to the crypto sector.
It seeks to compel the agency to respond positively or negatively to Coinbase’s request that the commission writes and adopt a digital asset-specific regulation. If the SEC refuses to create a new regulation, Coinbase may launch another action in federal court to compel the SEC to do so.
Coinbase shares finished over 7.2% on Monday and have lost more than 22% in the previous five days, making it a viable target for bottom-fishing.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Other Posts
Related Posts
Latest
Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong
Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution
Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing ReturnsÂ
Press Release
Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong
Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution
