The post Investment Company ARK Invest Sells Another Share After Coinbase Shares! appeared on BitcoinEthereumNews.com.

In an important move reflecting market dynamics, investment company ARK Invest, led by Cathie Wood, made a significant sale of Grayscale Bitcoin Trust (GBTC) shares. ARK Invest Led by Cathie Wood Sells Nearly $13 Million in Grayscale Bitcoin Trust Shares The sale, valued at approximately $12.85 million, was made through ARK Invest’s Next Generation Internet (ARKW) exchange-traded fund (ETF). This transaction represents ARK Invest’s largest GBTC share sale in over a year. The sale includes 395,945 GBTC shares from the ARKW fund, leaving assets worth approximately $112.7 million. This asset constitutes a weight of 6.95% in the fund. ARK Invest follows a strategy where individual assets in its ETFs are managed to not exceed 10% of the fund’s total market value. On Monday, the value of Grayscale’s Bitcoin investment vehicle GBTC fell 8.6% to $32.46. This drop follows a 5.8% drop in the value of Bitcoin, the largest cryptocurrency by market value. Grayscale, a leading digital asset manager, is actively working to convert its Bitcoin Trust into a spot Bitcoin exchange-traded fund (ETF) in January. The US Securities and Exchange Commission (SEC) is expected to make a decision on Grayscale’s application, along with the applications of 13 other companies, in the early months of next year. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/investment-company-ark-invest-sells-another-share-after-coinbase-shares/

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Filed under: News - @ December 12, 2023 11:24 pm