Bitcoin ETF

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Cathie Wood’s asset management firm Ark Invest has offloaded additional Coinbase (COIN) shares worth millions as the crypto community awaits to see if spot Bitcoin ETF approval is a “sell the news” event. Ark Invest 21Shares Spot Bitcoin ETF (ARKB) has a final deadline of January 10, 2024 while others have final deadlines between March and May this year. 
<h2 id="cathie-wood-s-ark-invest-sells-coinbase">Cathie Wood’s Ark Invest Sells Coinbase</h2> 
On Jan 2, Cathie Wood’s Ark Invest sold a total of 26,743 shares worth over $4 million, as per trades seen by CoinGape. 
ARK Innovation exchange-traded fund (ETF) (ARKK) sold 26,743 Coinbase shares, the third consecutive selloff this week. 
Cathie Wood’s Ark Invest sold a total of&nbsp;<a href="https://coingape.com/ark-invest-sells-25m-coinbase-shares-to-buy-elon-musks-tesla-tsla-cathie-wood-still-bearish/" target="_blank" rel="noopener">166,183&nbsp;Coinbase shares</a> worth over $25.3 million on Jan 3 and a total of&nbsp;<a href="https://coingape.com/bitcoin-bull-cathie-wood-ark-invest-coinbase-robinhood/" target="_blank" rel="noopener">3,360 Coinbase shares</a> worth over $580K on Jan 2. ARK Invest funds are offloading Coinbase to buy other shares. 
As CoinGape noted earlier Cathie Wood seems to be <a href="https://coingape.com/breaking-ark-invest-sells-coinbase-coin-shares-ahead-spot-bitcoin-etf-cathie-wood-bearish/" target="_blank" rel="noopener">bearish on Bitcoin</a> and crypto shares for the short term as the SEC is likely to approve spot Bitcoin ETFs, considering it as a ‘sell the news’ event. 
Coinbase (<a href="https://coingape.com/crypto-stocks/COIN/" target="_blank" rel="noopener">COIN</a>) price closed 2.21% higher at $155.60 on Thursday. However, it is again falling by 1.63% in the pre-market hours. 
Also Read: <a title="Coinbase Vs SEC: US SEC Requests Court To Consider Terra Ruling In Coinbase Suit" href="https://coingape.com/coinbase-vs-sec-requests-court-consider-terra-ruling/" target="_blank" rel="bookmark noopener">Coinbase Vs SEC — US SEC Requests Court To Consider Terra Ruling In Coinbase Suit</a> 
<h2 id="ark-21shares-all-set-for-spot-bitcoin-etf">Ark 21Shares All Set For Spot Bitcoin ETF</h2> 
Ark 21Shares, Grayscale, Fidelity, and other Spot Bitcoin ETF issuers <a href="https://coingape.com/after-grayscale-vaneck-files-form-8a-heres-what-it-means/" target="_blank" rel="noopener">submitted 8-A filings</a> with the U.S. Securities and Exchange Commission (SEC). It cleared clouds of likely rejection of spot Bitcoin ETF by the SEC. A <a href="https://coingape.com/crypto-market-selloff-btc-eth-sol-xrp-ada-price-free-fall/" target="_blank" rel="noopener">flush in open interests</a> in futures and options coupled with Matrixport’ report on spot Bitcoin ETF rejection caused $700 million in liquidations, with $500 million liquidated just in an hour. 
Bloomberg ETF analysts Eric Balchunas and James Seyffart <a href="https://coingape.com/bitcoin-etf-approval-how-likely-is-us-sec-to-give-nod-on-january-5/" target="_blank" rel="noopener">said</a> the Bitcoin ETFs are most likely to be approved next week, despite rumors of a decision today. 
Also Read: <a href="https://coingape.com/openai-explores-content-licensing-deals-with-publishers-amid-nyt-legal-woes/" target="_blank" rel="noopener">OpenAI Explores Content Licensing Deals With Publishers Amid NYT Legal Woes</a> 
The post <a href="https://coingape.com/cathie-wood-sells-coinbase-shares-as-ark-21shares-spot-bitcoin-etf/">Cathie Wood Sells Coinbase Shares As Ark 21Shares Spot Bitcoin ETF Deadline Looms</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Cathie Wood Sells Coinbase Shares As Ark 21Shares Spot Bitcoin ETF Deadline Looms

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