Cathie Wood’s Ark Invest Dumps Coinbase and GBTC Shares Amid Market Revival

  • 📰 Crypto_Potato
  • ⏱ Reading Time:
  • 71 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Crypto Blog

On Oct. 23, Ark Invest reduced its crypto-related holdings, shedding 42,613 shares of Coinbase and a substantial 100,739 shares of the Grayscale Bitcoin Trust .According to an update from the fund manager’s trading desk on Monday, Ark’s Next Generation Internet ETF led the way by offloading 32,158 shares of Coinbase, while the Ark Fintech Innovation ETF sold 10,455 shares of the popular cryptocurrency exchange.

Simultaneously, ARKW made a divestment of 100,739 GBTC shares. These transactions amounted to approximately $5.8 million in value, based on Coinbase’s closing price of $77.21 and GBTC’s closing price of $24.71 on Monday.its spot Bitcoin ETF filing in response to feedback from the SEC. Presently, approximately 12 spot Bitcoin ETFs are awaiting approval by the agency.

“I don’t think anyone expected the level of price action we’re seeing, and those investors who were shorting Bitcoin in the $33,000 plus range are certainly feeling the pain of that surprise today,” commented a Bitwise Asset Management analyst, reflecting the market sentiment.in Bitcoin’s popularity can be attributed to the introduction of BlackRock’s highly anticipated spot Bitcoin ETF, known as the iShares Bitcoin Trust.

Dark Side of Crypto ETF Approval: Unveiling the Hidden Risks and Challenges for Markets and InvestorsWe’re Still the Most Compliant Crypto Exchange Today: Binance’s New CMO Sheds Light On Its Urgent Challenges Sign-up FREE to receive our extended weekly market update and coin analysis report Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 568. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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
Source: Investingcom - 🏆 450. / 53 Read more »