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Guavy AI Editorial Team••Sentiment: -2•Clout: 83

HighTower Advisors Ups Stake in Coinbase Amid Market Volatility

BTCcoinbase

HighTower Advisors LLC has boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 9.7% in the fourth quarter, according to the company's latest SEC filing.

The investment firm now owns 105,761 shares of the cryptocurrency exchange's stock, valued at $23,917,000 as of its most recent disclosure with the Securities and Exchange Commission.

This increase in stake is significant, especially considering the current market conditions. Crypto-related stocks have been declining due to a combination of factors such as Bitcoin slipping into the mid-$70,000s, a negative Coinbase premium, and reports of institutional selling and ETF outflows.