From 24/7 Wall St. · Omor Ibne Ehsan · · 50s
Cathie Wood Sells Crypto Stocks Before SEC Exemption
Cathie Wood sold $60m crypto stocks days before SEC's innovation exemption boosted Coinbase
In brief
Cathie Wood sold $60m crypto stocks days before SEC's innovation exemption boosted Coinbase Wood's exit timing suggests she anticipated the SEC's regulatory shift for crypto platforms Originally reported by 24/7 Wall St..
Wood's Crypto Trim
ARK Invest sold $60 million in crypto stocks including Circle, Coinbase, and Bitmine.
“ARK Invest trimmed roughly $60 million of crypto-linked equities into a regulatory-driven rip that took Coinbase sharply higher last week.”
SEC Exemption Boost
The SEC's innovation exemption lets crypto platforms trade tokenized U.S. equities without full exchange registration.
“The SEC unveiled an Innovation Exemption that lets platforms trade tokenized U.S. equities without full exchange registration.”
Coinbase Surge
Coinbase jumped 10.84% weekly and 21.25% monthly after the exemption announcement.
“Coinbase closed at $194.25 on September 18, up 10.84% on the week and 21.25% on the month.”
Regulatory Shift
The SEC's five-year innovation exemption was a key win for Coinbase after years of lobbying.
“Only four days separated the ARK sales and the SEC’s five-year Innovation Exemption.”
Market Context
Coinbase revenue fell 18.5% year over year but showed positive adjusted EBITDA for 14 straight quarters.
“Q2 2026 revenue of $1.22 billion fell 18.5% year over year and missed consensus.”
Here's the gist
Wood's exit timing suggests she anticipated the SEC's regulatory shift for crypto platforms
