Cathie Wood Led Ark Invest Dumps Remaining Grayscale (GBTC) Shares
The post Cathie Wood Led Ark Invest Dumps Remaining Grayscale (GBTC) Shares appeared on BitcoinEthereumNews.com.
Ark Invest reportedly invested in Tesla, Meta, and Block Inc. shares on December 21, 2023. Prominent Coinbase execs reportedly sold around 250,000 $COIN shares in a few days. Dumping of cryptocurrency equities is ongoing as a due date for the anticipated approval of the spot Bitcoin ETF by the U.S SEC approaches. Following reports that Coinbase executives dumped their $COIN holdings, Cathie Wood’s asset management company Ark Invest allegedly dumped all of Grayscale Bitcoin Trust’s (GBTC) remaining shares. Playing Safe Ahead of Deadline The performance of crypto equities in the days leading up to the January 10, 2024 deadline is an open question, even if the broader financial markets are becoming more certain that the spot Bitcoin ETF will be approved by the SEC before the deadline. According to reports, Cathie Wood has chosen to sell all of Grayscale GBTC’s remaining shares. Ark Invest may use this as a means to modify its position in anticipation of the approval of the spot Bitcoin ETF. Another explanation is that this is being done to protect against the possibility of market corrections in the run-up to the deadline on January 10, 2024. Ark Invest reportedly invested in Tesla, Meta, and Block Inc. shares on December 21, 2023, while continuing to sell holdings in Coinbase and Grayscale Bitcoin Trust (GBTC). Ark Invest raised more than $14 million via the sale of 398,383 shares of Grayscale Bitcoin Trust (GBTC) during that period. Prominent Coinbase execs reportedly sold around 250,000 $COIN shares in a few days. According to Wood, the conversations about Bitcoin ETF filings with SEC authorities were really favorable and encouraging. According to her, the discussions with many ETF filings included asking complex, technical questions. Highlighted Crypto News Today: MicroStrategy Continues Accumulation Spree, Acquires 14,620 BTC Source: https://thenewscrypto.com/cathie-wood-led-ark-invest-dumps-remaining-grayscale-gbtc-shares/
Filed under: News - @ December 28, 2023 1:18 pm