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Wednesday, February 21, 2024

JPMorgan Cautious About Crypto Markets in 2024



Cathie Wooden’s funding agency, ARK Make investments, offloaded a sizeable chunk of Coinbase because the shares of the Nasdaq-listed crypto trade rose to a 20-month excessive on Wednesday. ARK offered 283,104 shares value $42.6 million based mostly on Coinbase’s final shut of $150.46. The agency has offered over $150 million value of the shares since Dec. 5. On Wednesday, COIN rose greater than 7.7% to prime $150 for the primary time since April 2022. Regardless of current gross sales, the trade nonetheless constitutes over 10% of ARK’s portfolio and retains the highest spot on the funding agency’s checklist of prime 10 holdings. The funding agency additionally offered some $1.63 million shares of Grayscale Bitcoin Belief.

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