Ark Invest, run by CEO Cathie Wood, purchased more shares in Coinbase Global Inc. on the same day the US-based crypto exchange announced it was suing the Securities and Exchange Commission. The ARK Innovation ETF purchased 122,083 shares, the ARK Next Generation Internet ETF added 20,327 shares, and the ARK Fintech Innovation ETF bought 14,633 shares, totaling nearly $8.6 million at current prices. Coinbase's lawsuit against the SEC follows a petition for a rulemaking that the company filed with the US securities regulator last summer, seeking a yes or no on its request for the commission to draft and approve a digital asset-specific rule. Coinbase can file another lawsuit to make a federal court force the SEC to make a new rule if the regulator declines.
(By Adam James)
Related News:
Coinbase Files Action Against SEC Seeking Clarity on Crypto Regulations
ARK Invest Scoops Up Coinbase, Block Shares for Second Straight Day
Coinbase Stock Jumped 60% in Two Weeks, ARK Invest Breaks Buying Streak
Cathie Wood’s Ark Invest Picks Up More Coinbase Stock, Adding $6.4 Million
All Comments