Ark Invest Management sold 135,152 Coinbase shares for $12 cardinal connected July 11, according to information from Cathiesark.
On July 11, COIN rallied to a one-year precocious of $90, continuing its mostly affirmative terms show of a caller while. During the past 30 days, Coinbase banal has outperformed Bitcoin’s (BTC) price, expanding by implicit 60%, portion BTC gained little than 20% during the aforesaid period.

Coinbase relation successful Bitcoin ETF applications
With respective accepted fiscal institutions applying for a Bitcoin exchange-traded money (ETF), astir person chosen the speech arsenic a spouse for their surveillance-sharing agreement.
The U.S. Securities and Exchange Commission (SEC) returned the applications filed successful June implicit a lack of clarity and comprehensiveness. The regulator stated that the proposals did not place oregon item the spot Bitcoin speech that would supply a surveillance-sharing agreement, forcing astir applicants to refile and sanction Coinbase arsenic their partner.
Despite the SEC lawsuit, marketplace observers person argued that these partnerships underscore Coinbase’s legitimacy arsenic a U.S. fiscal institution.
Cathie Wood bullish connected Coinbase
Since the opening of the year, Cathie Wood has maintained a bullish stance connected Coinbase stocks contempt the regulatory uncertainty surrounding the exchange.

Wood stated that the SEC enactment against Binance could indirectly payment Coinbase, as, dissimilar Binance, Coinbase is not accused of immoderate transgression activity.
In a motion of her conviction, Wood’s concern money acquired implicit 400,000 Coinbase shares pursuing the regulatory scrutiny. According to Cathiesark data, Ark Invest is 1 of the largest shareholders of the exchange, holding implicit 11 cardinal COIN stocks crossed each funds.
The station Cathie Wood’s Ark Invest unloads $12M Coinbase shares arsenic COIN rallies to one-year high appeared archetypal connected CryptoSlate.