🚨 According to Ark Invest Daily, the 'Money Tree Sister,' Ark Next Generation Internet ETF (ARKW), managed by Cathy Wood's Ark Investments, sold 809,441 shares of Grayscale Bitcoin Trust (GBTC), equivalent to approximately $27.6 million. 💰📉 #CryptoInvesting #ARKW #GBTC

Is ARK Selling GBTC Shares Due to ETF Anticipation? 🥹

On October 23, ARK, led by Cathie Wood, sold 100,739 Grayscale Bitcoin Trust (#GBTC ) shares from its ARK Next Generation Internet ETF (#ARKW ), totaling $2.5 million.

GBTC had reached multi-month highs, surging over 200% year-to-date and nearly 30% in the past 30 days. This marked ARK's first reported GBTC transaction since November 2022 when they added $4.5 million worth of GBTC shares to ARKW.

GBTC represents 10.4% of ARKW's portfolio, with Coinbase and Roku shares following at 9% and 7.4%. ARK's sale may be tied to awaiting a decision from the #SEC on their Bitcoin-based ETF filing.

If approved, they might prioritize their ETF over GBTC. ARK also sold Coinbase shares but continued to accumulate Robinhood shares.

#Binance
#crypto2023

#ArkInvest Update:

Yesterday,
#CathieDWood firm adjusted its portfolio, trimming over 280,000 #Coinbase shares (approx. US$40 million) in flagship funds.

Notably, #ARKW Fund also parted with 45,864 shares of #Bitcoin Investment Trust ( #GBTC ).

Stay tuned for more insights!

$BTC $BNB $SOL