Bitcoin

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Grayscale Bitcoin Trust

<ul class="news-points"> 
 <li>Ark Next Generation Internet ETF has been actively reducing its holdings in the Grayscale Bitcoin Trust.</li> 
 <li>Ark Investment sold more than 700,000 shares of Grayscale Bitcoin Trust.</li> 
 <li>Despite the recent sell-off, it’s noted that Cathie Wood, CEO of Ark Invest, had previously referred to Grayscale Bitcoin Trust as her “top pick.”</li> 
</ul> 
Ark Next Generation Internet ETF, an actively managed fund from the team at Ark Investment Management, is reducing its holding of the Grayscale Bitcoin Trust, according to <a href="https://www.bloomberg.com/news/articles/2023-11-24/cathie-wood-s-ark-pares-holdings-of-top-pick-bitcoin-trust" target="_blank" rel="nofollow">Bloomberg</a>.&nbsp; 
It was reported that since October 23, Ark Next Generation Internet ETF has sold more than 700,000 shares of Bitcoin Trust. According to Bloomberg’s compilation of the ETF provider’s daily trading data, Ark sold 36,168 shares on Wednesday.&nbsp; 
This instance isn’t the first, as Ark Invest <a href="https://coinedition.com/ark-invest-makes-second-day-sales-of-grayscale-and-coinbase-stocks/">sold a substantial amount of crypto assets</a> in two consecutive days at the end of October 2023. Reports showed that the Ark Next Generation Internet ETF sold approximately $1.8 million worth of Grayscale Bitcoin Trust (GBTC) shares and $1.7 million of Coinbase Global Inc. (COIN) stock. The day prior to this, the firm reportedly sold over 100,000 GBTC units and $3.3 million …
The post <a href="https://coinedition.com/ark-invest-cuts-bitcoin-trust-holdings-despite-bullish-predictions/">Ark Invest Cuts Bitcoin Trust Holdings Despite Bullish Predictions</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Ark Invest Cuts Bitcoin Trust Holdings Despite Bullish Predictions

Coin Edition

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