Cathie Wood's ARK Fund Exits Grayscale Bitcoin Trust Ahead Of SEC Decision, Citing Abundance Of Caution

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Cathie Wood's ARK Fund Exits Grayscale Bitcoin Trust Ahead Of SEC Decision, Citing Abundance Of Caution

Benzinga01-02

One of Cathie Wood’s funds, the ARK Next Generation Internet ETF, has offloaded its entire stake in the Grayscale Bitcoin Trust ahead of the U.S. Securities and Exchange Commission's (SEC) decision on...

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Although Wood is optimistic about approval chances, she warned that it is \"not 100% certain.\"In addition to the reshuffling, the ARK ETF also acquired 20,000 shares of the ARK 21Shares Active Bitcoin Futures Strategy ETF and sold 148,885 shares of Coinbase Global Inc.Why It Matters: Earlier in December, the fund sold $12.8 million worth of Grayscale Bitcoin Trust shares amid fluctuating cryptocurrency prices.ARK’s portfolio adjustments continued with the selling of GBTC units and the purchase of Block Inc shares in the third week of December.These changes come as Cathie Wood expressed optimism about the U.S. Securities and Exchange Commission’s likely approval of a Spot Bitcoin ETF in January.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":9,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}