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ARK Investment Management, under the leadership of Cathie Wood, has disclosed that its ARK Next Generation Internet ETF (ARKW) liquidated the remaining 2.25 million shares of Grayscale Bitcoin Trust (GBTC) during the year-end adjustments. This move was prompted by concerns about whether the trust fund could successfully transition to an ETF. Simultaneously, ARKW acquired 4.32 million shares of ProShares Bitcoin Strategy ETF, which invests in Bitcoin futures, and increased its holdings by 20,000 shares in ARK 21Shares Active Bitcoin Futures Strategy ETF.
In an interview, Wood stated that the decision to sell GBTC was made out of "extreme caution," but she added, "We remain as optimistic as ever about Bitcoin." It's noteworthy that in a meeting last month, Wood praised Grayscale Bitcoin Trust as her preferred choice.
Additionally, ARKW sold 148,885 shares of Coinbase (COIN.US), 231,102 shares of Block (SQ.US), and 281,284 shares of UiPath (PATH.US). It is reported that Wood has been reducing her holdings in Grayscale Bitcoin Trust over the past few months, which was once the largest holding in ARKW. With market speculation that the U.S. Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF early next month, Bitcoin prices have more than doubled in 2023. ARKW has achieved a gain of 108%, while Grayscale Bitcoin Trust and Coinbase have surged by 342% and 451%, respectively, since the beginning of the year. |
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Post time 2-1-2024 12:29:13