ARK Invest Sells Off GBTC Shares, Becomes Second-Largest Holder of Bitcoin Futures ETF BITO
ARK Invest, the investment firm led by Cathie Wood, has sold off its remaining holdings of Grayscale Bitcoin Trust (GBTC) shares, worth around $200 million, and used $100 million of the proceeds to buy shares in the ProShares Bitcoin Strategy ETF (BITO). This move has made ARK Invest the second-largest holder of the Bitcoin futures ETF. The firm's reshuffling of its portfolio comes amid speculation around the possible approval of a spot Bitcoin ETF by the US Securities and Exchange Commission (SEC), with hopefuls rushing to finalize their applications before a potential approval window in January.
ARK Invest Dumps GBTC for ProShares Bitcoin ETF, Buys Ark 21Shares and Sells Coinbase Stock
ARK Invest has purchased 4.3 million shares of the ProShares Bitcoin Strategy ETF, valued at $9.2 million, after selling its remaining holdings in the Grayscale Bitcoin Trust. The investment firm also sold $27.6 million worth of Coinbase stock and bought 20,000 shares of the Ark 21Shares Active Bitcoin Future Strategy ETF. The ProShares ETF now accounts for 5.03% of the ARK Next Generation Internet ETF and is its sixth-largest holding, while Coinbase remains the fund's largest holding at just under 12%. These changes in holdings come ahead of the Securities and Exchange Commission's expected decision next month on whether to allow spot bitcoin ETFs to trade in the US.
ARK Invest extends Coinbase stock sales to $196.8 million in December
ARK Invest, the investment firm led by Cathie Wood, has continued to sell off its Coinbase stock, with December sales totaling $196.8 million. The firm often reduces its holdings in individual companies as their shares rise, in order to maintain a maximum exposure of around 10%. ARK Invest also reduced its holdings in the Grayscale Bitcoin Trust, while increasing its holdings in Block, which offers payments in cryptocurrency. Bitcoin has rallied 3.3% and crossed $44,000 for the first time in 10 days.
ARK trims holdings of Grayscale Bitcoin Trust as discount narrows and BTC approaches $43K
ARK, led by Cathie Wood, has sold 809,441 shares of Grayscale Bitcoin Trust (GBTC) for around $28 million as bitcoin approaches $43,000. This brings the investment firm's remaining GBTC shares to 3.4 million ($117.4 million), down from a peak of 9 million shares in July 2021. ARK purchased the GBTC shares at an average cost of $24.08, making a profit on this sale as GBTC currently trades at $34.54. Bitcoin is currently trading above $42,900, up 17% in the last 30 days.
ARK Invest sold $59 million worth of Coinbase shares and $15 million in GBTC last week
According to TheBlock, Cathie Wood's ARK Invest sold $59 million worth of Coinbase stocks and $15 million worth of GBTC last week.
ARK Invest reduced its COIN stock holdings by approximately US$11.47 million yesterday
Cathie Wood's ARK Invest sold 82,165 shares of Coinbase stock (COIN) on December 12, worth approximately $11.47 million. COIN closed at $139.62 today.
ARK Invest sold $12.85 million worth of GBTC shares on Monday
On December 12th, CoinDesk reported that ARKW ETF under ARK Invest sold $12.85 million worth of GBTC shares on Monday. At this point, ARKW owns approximately $112.7 million worth of GBTC, accounting for 6.95% of its weight.
ARK Invest sold GBTC worth approximately $12.85 million again yesterday
Cathie Wood's ARK Invest continued to reduce its holdings of Grayscale Bitcoin Trust (GBTC) on December 11th, selling a total of 395,945 shares worth approximately $12.85 million.
ARK Invest sold $49.2 million worth of Coinbase shares on Friday
Cathie Wood's ARK Invest sold 335,860 shares of cryptocurrency exchange Coinbase (COIN) on Friday, the largest sale since July. ARK sold COIN shares through three exchange-traded funds (ETFs), mostly from the Innovation ETF (ARKK). Based on Coinbase's closing price, the sale raised $49.2 million.
ARK Invest sold 168,127 GBTC shares yesterday, worth approximately $5.9 million
ARK Invest sold 168,127 shares of GBTC worth about $5.9 million yesterday. On Tuesday, the GBTC price closed at $35.10, the highest level since December 2021. (CoinDesk)
