Cathie Wood’s ARK Invest Accumulates More Coinbase Stock (COIN) As Crypto Exchange Goes Against SEC
ARK Invest, led by Cathie Wood, has increased its holdings of Coinbase (COIN) shares by acquiring over 157,000 shares this week. The move comes as Coinbase takes a defensive stance against the U.S. Securities and Exchange Commission (SEC). ARK Invest’s funds purchased COIN shares worth $6.98 million, with an average cost significantly higher than Coinbase’s current share price. These acquisitions coincide with Coinbase’s legal efforts to compel the SEC to respond to its petition for guidance on the digital asset industry. Despite recent challenges, Cathie Wood remains optimistic about Bitcoin’s future, predicting substantial growth in the coming years….