Bitcoin ETF

Bitcoin

Generation

Grayscale Bitcoin Trust

<ul> 
 <li>The ARK Next Generation Internet ETF (ARKW) sold 100,739 GBTC shares on 23 October.</li> 
 <li>This is the first GBTC transaction publicly disclosed by ARK since November 2022.</li> 
</ul> 
In light of the recent market upsurge caused by speculation about the launch of a spot BTC ETF, ARK Investment led by <a href="https://thenewscrypto.com/cathie-wood-says-sec-bitcoin-etf-approval-appears-imminent/" target="_blank" rel="noreferrer noopener">Cathie Wood</a> sold shares of the Grayscale Bitcoin Trust (<a href="https://thenewscrypto.com/bitcoin-news-grayscales-legal-win-boosts-gbtc-shares-by-a-whopping-17/" target="_blank" rel="noreferrer noopener">GBTC</a>). The ARK Next Generation Internet ETF (ARKW) sold 100,739 GBTC shares on 23 October for $2.5 million. 
This is the first GBTC transaction publicly disclosed by ARK since November 2022, when the company bought 450,272 GBTC shares at a value of $4.5 million via ARKW. 
<h3 class="wp-block-heading" id="h-cashing-in-profits">Cashing in Profits</h3> 
The deal was made when GBTC hit a multi-month high of $24.7, the highest price it has been since May 2022. TradingView reports a gain of approximately 30% in the last 30 days and a gain of more than 200% year to date for GBTC. 
About 2% of ARKW’s GBTC holdings, or $122.6 million as of Oct. 23, were sold in the most recent transaction. ARKW’s biggest holding is in GBTC (10.4% of the product’s exposure), followed by investments in <a href="http://coinbase.com" target="_blank" rel="noreferrer noopener nofollow">Coinbase</a> (9%) and Roku (7.4%). 
Samson Mow, a vocal proponent of Bitcoin, theorizes that ARK’s recent GBTC sale is connected to the company’s wait for a ruling from the U.S <a href="http://sec.gov" target="_blank" rel="noreferrer noopener nofollow">SEC</a> on the company’s application to list a Bitcoin-based ETF. 
In response to ARK’s Oct. 11 amendment to its spot Bitcoin ETF filing, Grayscale on Oct. 19 submitted a fresh BTC ETF registration statement to the SEC. In addition to the GBTC sale, ARK raised $3.4 million by offloading 32,158 shares of Coinbase from ARKW and 10,455 shares from its ARK Fintech Innovation fund. 
Highlighted Crypto News Today: 
<a href="https://thenewscrypto.com/cathie-wood-says-sec-bitcoin-etf-approval-appears-imminent/" target="_blank" rel="noreferrer noopener">Cathie Wood Says SEC Bitcoin ETF Approval Appears Imminent</a>

Cathie Wood Led Ark Invest Sells Grayscale Bitcoin Trust (GBTC) Shares

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