Cathie Wood sold another $26.3 million of Coinbase shares on Monday but said she’s still bullish on the cryptocurrency exchange.<\/p>\n
Wood’s Ark funds dumped 76,788 Coinbase shares, which she said was profit-taking after the exchange’s stock had soared. The funds were being reallocated elsewhere, she said, in an interview with Bloomberg Television.<\/a><\/p>\n Coinbase shares are up more than 223% so far this year and more than 90% in the past month. Wood said she is ”very positive on Coinbase, especially in light of the court ruling for Ripple.”<\/p>\n “The court ruling for Ripple against the SEC is very positive for exchanges”, she said, revealing that Ark Invest bought Coinbase’s stock around that time when its value was hammered by an SEC lawsuit. Coinbase stock has now risen to be the second largest holding after Tesla in an Ark Flagship fund, she said.<\/p>\n Cboe reaches surveillance agreement with Coinbase for spot bitcoin ETFs https:\/\/t.co\/90GEReRSvj<\/a><\/p>\n — The Block (@TheBlock__) July 11, 2023<\/a><\/p><\/blockquote>\nCathie Wood Says Ripple Ruling Positive for Exchanges<\/strong><\/h2>\n
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