ARK Invest, led by Cathie Wood, sold GBTC and COIN shares for the second day in a row.
ARK Next Generation Internet ETF was traded before the market closed on Tuesday, according to market data. 21,062 Coinbase (COIN) And 72,509 Grayscale Bitcoin Trust (GBTC) sold the shares.
The value of GBTC shares sold is approximately 1.8 million; The value of Coinbase shares was 1.7 million dollars.
Bitcoin price gained upward momentum on the thought that the spot exchange-traded fund (ETF) would be approved. ARK Invest, which purchased a large amount of COIN and GBTC shares in 2022, is adjusting its portfolio accordingly as market dynamics begin to change.
The company on Monday $3.3 million COIN and sold 100,739 GBTC shares.
ARK Invest, managed by Cathie Wood, is awaiting approval from the US Securities and Exchange Commission (SEC) to establish a spot Bitcoin ETF together with 21Shares. There are currently 12 different ETF applications awaiting approval.
Wood, SEC simultaneously approve multiple applications waiting.