MAJOR INVESTMENT MOVE: ARK INVEST OFFLOADS ENTIRE GRAYSCALE $BTC HOLDINGS
@CathieDWood's renowned firm, #ArkInvest, managing assets close to $7 billion as per available data, has finalized the sale of its entire @Grayscale #Bitcoin trust $GBTC holdings.
This transaction on December 28 garnered a whopping $200 million, with the process initiating back in October 2023.
Interestingly, this announcement closely follows Cathie Wood's perspective that the forthcoming approval of a spot
#BTC ETF in January might trigger a 'sell the news' scenario, potentially impacting BTC's price in the short term.
Out of the $200 million proceeds, a notable $100 million has been channeled into $BITO, a Bitcoin futures ETF. Yet, industry watchers anticipate this move might be a temporary strategy for the firm.
ARK's Strategic Shift: Offloading $COIN Shares Too...
In recent times, ARK Invest has been actively reducing its @Coinbase $COIN stake, and today was no exception.
Data indicates that ARK Invest sold off approximately $27.6 million in Coinbase holdings.
Despite these sales, while ARK no longer retains any $GBTC, #coinbase remains a significant asset in its portfolio, accounting for roughly 12% of its holdings, even after these recent divestments.
#ARKUSDT