ARK, managed by Cathie Wood, has completely closed its position in Grayscale Bitcoin Trust (GBTC).
ARK was in its portfolio until a month ago having the largest share GBTC position for approximately 100 million dollars closed completely.
The company started trading in the USA with half of the money first forward Bitcoin exchange-traded fund (ETF) He invested in BITO. According to Bloomberg analyst Eric Balchunas, ARK is using BITO to maintain exposure to Bitcoin. a liquidity transition tool It uses as.
Balchunas, “So ARK became the second largest investor in BITO, even though this was a temporary parking lot. “They (and institutions in general) use high-liquidity ETFs for such transitions.” said.
Bloomberg analysts estimate ARK’s revenue from GBTC sales that you can transfer to your own spot Bitcoin exchange-traded fund. he thinks.
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against ARK’s ARK 21 Shares Bitcoin ETF in partnership with 21Shares. The final decision will be made on January 10..
According to the analysis, ARK’s own ETF Cash transfer of more than 100 million dollarsfund by increasing its volume him-her-it can take you one step ahead of your competitors.