Jamie Crawley is a CoinDesk news reporter based in London.
Cathie Wood's tech-focused investment manager, ARK Invest, has sold around $2.5 million in the Grayscale Bitcoin Trust shares.
The fund sold 100,739 shares, equivalent to around 2% of ARK's Next Generation ETF holdings. The sale coincided with bitcoinenjoying a bullish surge, which saw it rise above $34,000 for the first time in nearly 18 months. According to FactSet data, Ark holds about 5.6 million GBTC shares, making it the second-largest holder of the trust.
Grayscale's GBTC may also be in line to be approved as a spot ETF in the U.S. after its legal fight with the SEC over the rejection of Grayscale's application to convert the trust into an ETF Ark also sold about $3.3 million worth of crypto exchange Coinbase shares and bought $2.4 million shares of popular trading platform Robinhood .. This sale of GBTC shares would be an example of the inverse tactic - cashing in on a bullish mood to bank some profits.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ark Invest Takes Gain on Coinbase Stock Amid Parabolic RunCathie Wood's Ark Invest has sold another tranche of Coinbase stock amid market rally
Read more »
Ark Invest sells Coinbase and GBTC shares as bitcoin price ralliesCathie Wood's Ark Invest sold 42,613 shares of Coinbase and 100,739 shares of GBTC on Monday amid an ongoing crypto rally.
Read more »
Apple to invest more than $1 billion annually in lucrative new areaThe $3 trillion company has the 'biggest opportunity among Big Tech to pioneer' this avenue.
Read more »
Mitsubishi Motors to invest around 20 billion yen into Renault's new EV companyMitsubishi Motors to invest around 20 billion yen into Renault's new EV company - Nikkei
Read more »
What John Stamos Shares About Mary-Kate And Ashley Olsen In New MemoirBecca Wood is a news and trending reporter for TODAY Digital based in New York City. Follow her on Instagram and Twitter.
Read more »