1. BITBILIHome
  2. Article

Ark Invest adjusts investment strategy, reduces Coinbase stake amid regulatory landscape shifts

• 40 views

TL;DR Breakdown

  • Ark Invest, led by Cathie Wood, sold additional Coinbase shares amidst the stock’s rally, reflecting a potential reassessment of their investment strategy.
  • Despite facing an SEC lawsuit, Coinbase has experienced a substantial surge of nearly 200% this year.
  • Coinbase’s selection as a surveillance-sharing partner for Bitcoin ETF applicants and positive legal rulings on XRP have contributed to its growth.

Description

Ark Invest, the renowned investment firm led by Cathie Wood, made additional sales of Coinbase shares on Friday amidst the stock’s continued rally. The move comes as Ripple‘s legal developments at the hands of the Securities and Exchange Commission (SEC) contribute to Coinbase’s positive market performance. According to a recent update from Ark’s trading desk, … Read more

Ark Invest, the renowned investment firm led by Cathie Wood, made additional sales of Coinbase shares on Friday amidst the stock’s continued rally. The move comes as Ripple‘s legal developments at the hands of the Securities and Exchange Commission (SEC) contribute to Coinbase’s positive market performance.

According to a recent update from Ark’s trading desk, the flagship fund, Ark Innovation ETF, sold 263,247 shares of Coinbase. The Ark Next Generation Internet ETF also sold 93,227 shares, and the Ark Fintech Innovation ETF sold 121,882 shares. These collective sales amounted to approximately $50.37 million, based on Coinbase’s closing price of around $105 on Friday.

Interestingly, this is the second instance of Ark Invest reducing its Coinbase holdings this week. On Tuesday, the firm sold $12 million worth of shares. Despite these sales, Ark Invest remains the second-largest owner of Coinbase shares, maintaining a stake of 6.30%, as per CNN data.

Coinbase, despite facing a lawsuit from the SEC, has experienced a substantial surge of nearly 200% this year. This remarkable growth can be attributed to its recent selection as a surveillance-sharing partner for various spot bitcoin exchange-traded fund (ETF) applicants, including industry giants BlackRock and Fidelity. Furthermore, positive legal rulings about the cryptocurrency XRP have amplified optimism within the crypto sector.

Ark Invest’s decision to reduce its Coinbase holdings marks a departure from its long-standing practice of maintaining a significant position in the company. This development suggests a potential reassessment of the investment landscape by Ark Invest.

The cryptocurrency market has witnessed a broader upward trend, which has inevitably boosted the performance of related stocks like Coinbase. This remarkable rally and positive industry developments have attracted substantial attention from investors worldwide.

As the regulatory landscape continues to evolve, with ongoing legal battles and emerging partnerships, the future of Coinbase and other crypto-related companies remains uncertain. However, the recent actions of Ark Invest highlight the importance of adaptability and strategic decision-making in navigating this dynamic and rapidly changing market.

Ark Invest’s sale of Coinbase shares reflects the firm’s evolving investment strategy amid the stock’s ongoing surge. Despite the SEC lawsuit, Coinbase’s collaboration with prominent players in the financial industry and favorable legal rulings have significantly contributed to its growth. As the cryptocurrency market evolves, market participants closely monitor developments and adjust their positions accordingly.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Ark Invest adjusts investment strategy, reduces Coinbase stake amid regulatory landscape shifts

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月16日 01:36
Next 2023年7月16日 05:05

Related articles

  • Ripple pushback: Legal team makes move against SEC’s appeal

    TL;DR Breakdown Ripple’s legal team contests the SEC’s reasons for an appeal, suggesting they’re based on mere “dissatisfaction” over a judgment. The SEC’s appeal revolves around the argument that Ripple’s XRP doesn’t qualify as a security for retail sales. Ripple points out the SEC’s failure to meet the required standards for a stay and receives support from individual defendants in the case. Description When you think of big names like Ripple, you expect them to play their cards right. And play them right, they did! Ripple’s staunch legal eagles have come out swinging against the United States Securities and Exchange Commission (SEC). Their bold move? Pointing out the SEC’s less than convincing reasons for wanting an appeal in … Read more When you think of big names like Ripple, you expect them to play their cards right. And play them right, they did! Ripple’s staunch legal eagles have come out swinging against the United States Securities and Exchange Commission (SEC). Their bold move? Pointing out the SEC’s less than convincing reasons for wanting an appeal in their ongoing courtroom tussle….

    Article 2023年9月2日

  • Cardano price analysis: ADA recovers at $0.3632 after a bullish movement

    TL;DR Breakdown Cardano price analysis shows a bullish market sentiment. Resistance for ADA is present at $0.3633. Support for ADA is seen at the $0.3545 level.   Cardano price analysis shows a bullish trend forming, with the price of ADA breaking above the $0.3545 support zone and climbing up to a high of $0.3633 earlier today. ADA kicked off today’s trading session on a low note before steadily rising, reaching the $0.3632 mark.  ADA is now trading around the $0.3632 level and could suffer a few corrections if support fails to hold up at this level. Should sellers manage to bring down the price below the $0.3545 level, it would send ADA into a bearish trend. On the other hand, if buyers manage to sustain the current momentum, we could soon see ADA rising above the $0.3633 resistance level. Cryptocurrencies price heatmap, Source: Coin360 The overall market sentiment for the crypto market is still mostly bullish. Most of the major altcoins, including Cardano (ADA), are currently in a positive outlook as the crypto market recovers from its recent dip. Top…

    Article 2023年5月29日

  • Biden’s top economist exposed: Ties to de-dollarization movement

    TL;DR Breakdown Jared Bernstein, President Biden’s chief economist, has past connections to the de-dollarization movement. Balaji Srinivasan highlighted Bernstein’s past stance advocating for the de-dollarization of the U.S. dollar from its status as the world’s reserve currency. Bernstein seems to have distanced himself from these views in his current position, highlighting the dollar’s role in international security. Description The stage is set for a dramatic shift in the global economic landscape, with President Biden’s chief economist, Jared Bernstein, revealed to have past connections to the de-dollarization movement. The issue at stake is the status of the U.S. dollar as the world’s reserve currency – a concept that has seen its fair share of … Read more The stage is set for a dramatic shift in the global economic landscape, with President Biden’s chief economist, Jared Bernstein, revealed to have past connections to the de-dollarization movement. The issue at stake is the status of the U.S. dollar as the world’s reserve currency – a concept that has seen its fair share of opposition and support from different corners of the economic…

    Article 2023年6月25日

  • Chinese regulators meet global investors to boost market confidence amid economic concerns

    TL;DR Breakdown Chinese regulators hold a rare meeting with global venture capital and private equity firms to boost market confidence amid concerns over the country’s economic recovery. Discussions centered around measures to facilitate global investment, including expediting overseas IPO registrations and relaxing merger and acquisition rules. Tensions with the US have impacted investor interest in China, a crackdown on the private sector, and a weakened economy, prompting calls for concrete actions from the government to address uncertainties. Description Chinese regulators recently engaged in a rare meeting with global venture capital and private equity firms on Friday to address concerns and bolster market confidence in the country’s economic recovery. Led by China Securities Regulatory Commission (CSRC) Vice Chairman Fang Xinghai, the meeting aimed to discuss measures to ensure continued global investment in China, particularly … Read more Chinese regulators recently engaged in a rare meeting with global venture capital and private equity firms on Friday to address concerns and bolster market confidence in the country’s economic recovery. Led by China Securities Regulatory Commission (CSRC) Vice Chairman Fang Xinghai, the meeting aimed…

    Article 2023年7月25日

  • EU and US join forces for AI standards interim solution

    TL;DR Breakdown The European Union (EU) and the United States are joining forces to address the need for minimum AI standards as new comprehensive AI legislation is being developed. The EU’s forthcoming AI Act could be the world’s first comprehensive AI legislation, but it may take one to two years to be fully implemented. The fourth ministerial-level meeting of the Trade and Technology Council (TTC) will discuss generative AI algorithms and the need for regulatory oversight. In an unprecedented move towards global collaboration in the realm of artificial intelligence (AI), the European Union (EU) and the United States are jointly addressing the pressing need for an interim solution to AI standards. The call for an expeditious response comes as new legislation governing the use of AI is on the horizon but has yet to be formalized and enacted. Establishing AI standards: A global imperative Margrethe Vestager, the EU’s tech czar and Vice-President of the European Commission, stressed on the urgency to establish minimum standards to bridge the gap until the new laws take effect. The forthcoming AI Act from the…

    Article 2023年5月25日
TOP