Cathie Wood Sells $60 Million in Crypto Stocks Ahead of SEC Exemption
Cathie Wood's ARK Invest sold approximately $60 million worth of crypto-related equities, including shares in Coinbase (NASDAQ:COIN), Circle, Bitmine, and Bullish. The sales occurred just days before the U.S. Securities and Exchange Commission introduced an Innovation Exemption allowing platforms to trade tokenized U.S. equities without full exchange registration—a move seen as a regulatory win for companies like Coinbase. Coinbase's stock rose 10.84% on the week, reaching $194.25 by September 18, but remains down nearly 43% year to date amid broader market challenges in crypto and digital assets. The company reported an 18.5% annual revenue decline for Q2 2026 and a GAAP loss of $1.36 per share. The timing raises questions about whether Wood's move was profit-taking or early recognition of regulatory shifts. Coinbase CEO Brian Armstrong remains optimistic, noting Bitcoin will eventually rebound.
Tickers: $ARKK $COIN $HOOD $MARA $MSTR
Topics: ARK Invest crypto SEC regulation stock sales