ARK Invest sells part of his coin base stocks because the stock of the crypto exchange increases to a one year
ARK Invest sells part of his coin base stocks because the stock of the crypto exchange increases to a one year
The investment company ARK Invest has sold part of its stocks on the Coinbase crypto exchange, since the share has risen to an almost one year old. On Tuesday, Cathie Wood 135,152 Coinbase shares worth around $ 12 million sold from her ARK Innovation ETF. This corresponds to 0.14% of the total stock of the fund, as the data compiled by Bloomberg.
The sale took place after the coin base share rose by 9.8% that day. The reason for this was an agreement on joint surveillance with five Bitcoin ETF applicants. It is not the first time that Ark Invest sold coinbase shares this year. As early as March, 160,887 shares worth $ 13.5 million were sold.
Despite these sales, the coin base share is in an upward trend. In the past month it has increased by more than 60% and has even over 140% since the beginning of the year. ARK Invest has bought aggressively coinbase shares in several ARK funds in recent months. In June alone, shares worth around $ 40 million were acquired, in April and May it was around $ 33 million and even $ 117 million in March.
According to market data, the estimated average costs for coin base shares in various ARK funds are $ 239.60 for the ARK FinTech Innovation ETF (ARKF), $ 254.65 for the ARK Innovation ETF (ARKK) and $ 242 for the ARK Next Generation Internet ETF (ARKW).
Interestingly, the coin base share increases despite the increasing supervisory measures against the stock exchange in the United States. The US Securities and Exchange Commission (SEC) said last week that Coinbase may have violated the securities regulations. Coinbase argued that they were not aware of this violations, but the SEC pointed out that Coinbase had experienced legal advice and had already received the approval of the registration declaration.In the past month, Coinbase was sued by the SEC due to the sale of non -registered securities and other alleged misconduct. The Commission also accuses the stock exchange of illegally offering financial services and not registering as a securities exchange. In addition, Coinbase Show received Cause Order of 11 US states in which the company must justify why it should not hire the company.
Despite these regulatory challenges, the positive mood around Coinbase continues. The crypto exchange has recorded strong growth in recent months and its shares have become a sought-after investment option. It remains to be seen how the regulatory measures will affect coin base and whether other investors will reduce their stocks.
Kommentare (0)