Management company ARK Invest sells $12 million worth of shares in Coinbase, the largest U.S. cryptocurrency exchange, as the securities surge to a one-year high.
The surge is due to Coinbase teaming up with the Chicago Mercantile Exchange (Cboe) to “jointly monitor” applications to register five spot bitcoin-ETFs. As of Wednesday afternoon, July 12, the exchange’s shares are trading at $89.15 apiece on NASDAQ.
Catherine Wood owns about 11 million shares of Coinbase, making her one of the largest holders of the cryptocurrency exchange’s securities