Coinbase Sees $8.6 Million in “Smart Money” Flow into its Ecosystem

The ARK Innovation ETF bought 122.08k coins on Coinbase while the ARK Next Generation Internet ETF bought 20.32k for $8.6 million

Coinbase Sees $8.6 Million in "Smart Money" Flow into its Ecosystem
Coinbase Sees $8.6 Million in "Smart Money" Flow into its Ecosystem

Cathie Wood’s company sold its Coinbase shares for the first time since July 2022 at the end of March 2023. Several insiders sold their COIN shares simultaneously, including the Chief Executive Officer, Chief Legal Officer, Chief Accounting Officer, and Chief People Officer.

But ARK has already made up for it and put more COIN shares in the game. As you can see in the table below, the ARK Innovation ETF bought 122,08,000 Coinbase shares on April 24, and the ARK Next Generation Internet ETF bought 20,32,000 more shares. On the other hand, the ARK Fintech Innovation ETF bought 14,63 shares. The total cost of the deal was around $8.6 million.

Coinbase Sees $8.6 Million in "Smart Money" Flow into its Ecosystem
Source: Cathie’s Ark

This is not the first time this quarter that ARK has put money into Coinbase. On April 5, the company that manages investments bought more shares in three transactions. These shares were then added to the same three funds. At that time, 147,250,000 shares of COIN were bought. The most recent buys on ARK come right after Coinbase sued the SEC. As was reported earlier today, Coinbase has asked the court to force the agency to answer its request for more information about how crypto rules work.

In July 2022, the exchange was the subject of a petition with 50 particular concerns. The same thing led to questions about how to control certain digital assets. Coinbase has asked a federal court in the United States to order the SEC to say “yes” or “no” to the case.

Shares of Coinbase React

From the SEC suing a cryptocurrency company (Ripple) to a cryptocurrency company (Coinbase) suing the SEC, everything has come full circle. But buyers have had to be careful in both cases. With the decision in the first case coming up soon, people have been buying up XRP. ARK’s new purchase shows that smart money is still going into COIN. COIN was named one of the best-performing large-cap stocks of 2023 around the middle of April. It has been able to do this by going up at an angle of 82%.

But over the past few days, COIN’s price has been decreasing. It has lost about 7.27 percent of its value in the last day and about 22.2% in the previous five days. During Tuesday, April 25’s pre-market hours, the price of COIN was $54.4, which was lower than yesterday’s closing price.

Coinbase Sees $8.6 Million in "Smart Money" Flow into its Ecosystem
Coinbase Stock Price by TradingView

https://link.space/@tok99toto ladangtoto link alternatif ok88 deposit dana ladangtoto rtp maxwin k86toto login tok99toto https://thewatchmakerproject.com/ https://mannawasalwa.ac.id/3/ladang-toto/ https://mannawasalwa.ac.id/3/s-mania/ https://bintangara.tabalongkab.go.id/public/klik88/ https://klik88.bintangara.tabalongkab.go.id/ https://ladangtoto.sakt1.co.id/ https://manyao.djmusicvibration.com.in/ https://ww.pn-jayapura.go.id/ ladangtoto slot thailand login k86sport tok99toto login https://slot-toto.pa-sungailiat.go.id/ http://103.3.46.79/funmania/ http://103.101.52.68:8005/kaizen88/ https://link-fun77toto.threeways.id/ https://bandar-fun77toto.diansigmaglobal.id/ https://ptbm.co.id/k86toto/ https://sisfo.diskominfo.pa-malangkota.go.id/ https://ftp.fhunwiku.ac.id/ https://103.181.182.174/ https://www.forex.ntu.edu.tw/tok99/ http://nkquoc.ntt.edu.vn/ https://kgaswe.ac.bw/adm-pulsa/ https://szeus.bintangara.tabalongkab.go.id/ https://ptbm.co.id/togel-hongkong/ https://sdnbeneryk.sch.id/s-88/ https://pta-bali.go.id/img/s-macau/ https://pta-bali.go.id/img/s-x500/ https://pta-bali.go.id/img/angka-jitu/ https://sdnbeneryk.sch.id/s-5k/ https://pta-bali.go.id/img/s-jepang/ http://103.3.46.79/888slot/ https://inspektorat.bondowosokab.go.id/assets/s-thailand/ https://pta-bali.go.id/img/s-taiwan/ https://fun77.bintangara.tabalongkab.go.id/ https://yppdb.or.id/s-macau/ http://103.3.46.79/dana-fun77/ https://yppdb.or.id/pg-soft/ https://galvindo.co.id/fun77toto/ http://103.3.46.79/padma188/ http://103.3.46.79/gateszeus/ https://pa-sukabumi.go.id/img/fun77toto/ https://yppdb.or.id/ladang-toto/ https://pa-blambanganumpu.go.id/img/s-mahjong/ https://yppdb.or.id/ying77/ http://103.3.46.79/slot777/ http://103.3.46.79/slot88/ http://103.3.46.79/slot77/ http://103.3.46.79/dewatoto/ http://103.3.46.79/dewaslot/ https://pa-blambanganumpu.go.id/img/s-dana/ https://pa-blambanganumpu.go.id/img/s-jp/ http://103.3.46.79/hokifun/ http://103.3.46.79/gopayfun/ http://103.3.46.79/danafun/ https://yppdb.or.id/data-sydney/ https://smartech.co.id/fun77toto/ http://161.97.112.139/ https://yppdb.or.id/axiebet/ https://yppdb.or.id/s-bri/ https://yppdb.or.id/s-toto/ https://yppdb.or.id/s-jepang/ https://pa-blambanganumpu.go.id/img/joker-123/ https://yppdb.or.id/ladang-duit/ slot thailand http://103.3.46.79/rumah258/ http://103.3.46.79/megaforwin/ http://103.3.46.79/asia188/ http://103.3.46.79/66kbet/ http://103.3.46.79/gb777/ http://103.3.46.79/gudangtoto/