- Cathie Wood once again filled her Coinbase (NASDAQ:COIN) stock bucket by buying up its shares.
- This $COIN share purchase by Cathie Wood was after a nearly month-long break.
Cathie Wood, Founder and CEO of ARK Invest, is back to buying up shares of Coinbase ($COIN). According to weekend reports by ARK Invest, the firm disclosed that it had purchased 162,325 shares of $COIN.
Meanwhile the last purchase by ARK of $COIN was in mid-January when it bought $3.3 Million worth of shares of the exchange.
It can be seen that the $9.2 Million dollar buy comes as United States regulators increased their scrutiny of the digital assets industry. Although the Securities and Exchange Commission (SEC) didn’t go after Coinbase’s staking product, as it did with Kraken.
Last week, the SEC alleged that Kraken’s staking service was an illegal sale of securities. Thus Kraken, a crypto exchange ends its staking program in a $30 million SEC settlement. But this settlement could have a huge impact across the industry.
ARK’s Innovation ETF (NYSEARCA: ARKK) is up 28% year-to-date, while the ARK Fintech Innovation ETF (NYSEARCA: ARKF) is up 25% so far this year.
On the other hand, $កាក់ is up 69% year-to-date so far this year.
Cathie Wood Highlights ARK’s Big Ideas 2023
Last week in the ARK Invest podcast listing Cathie Wood weighed in on M2 growth, interest rates, inflation, auto sales, and Bitcoin. In this monthly video series Wood discusses fiscal policy, monetary policy, market signals, economic indicators, and innovation.
Source: https://www.thecoinrepublic.com/2023/02/13/cathie-woods-another-coin-stock-purchase-and-bitcoin-prediction/