.CathieDWood says ARKInvest sold a 'little' bit of Coinbase given increased risk around the SEC securities listing probe mikeybellusci reports
about whether certain listings could be considered securities, CEO Cathie Wood said on Bloomberg TV Monday.
Wood mentioned a slight “thesis risk” increase in Coinbase. The exchange-traded fund manager dumped 1.1 million COIN shares –"very little," Wood said – on a volatile trading day. The fund still owns almost five million Coinbase shares . Ark opted to sell some of its large Coinbase stake because of the reported SEC probe and how it could potentially change Coinbase's business model.recent partnership with asset manager BlackRock"BlackRock’s decision to partner with Coinbase is a strong signal that institutions consider crypto – starting with bitcoin [BTC] – a new asset class. We agree that bitcoin has earned an allocation into well diversified portfolios," Ark analyst Yassine Elmandjra said in a note.
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