Wirehouse Advisors Offer Crypto Exposure Through Stocks Instead of Direct Holdings

Ark Invest increases its stake in Bitmine Immersion, reflecting a strategic shift towards indirect crypto investments while offloading shares in Robinhood and Coinbase.

229d ago

Summary

Ark Invest has increased its position in Bitmine Immersion (BMNR) by $20.1 million, while selling $12.62 million in Robinhood Markets (HOOD) and $6.9 million in Coinbase Global (COIN). This move highlights a trend where advisors guide clients to invest in stocks for crypto exposure, simplifying the investment process.

Terms & Concepts

1099-B: A tax form used in the U.S. to report capital gains and losses from the sale of securities and other financial instruments.
DeFi: Decentralized Finance, a blockchain-based form of finance that does not rely on traditional financial intermediaries.
Staking: A process that involves participating in the network of a cryptocurrency by locking up coins to support blockchain operations in return for rewards.