Posted 12/7/2023, 5:10:50 PM
Ark Sells $21M in Grayscale Bitcoin Trust as Spot Bitcoin ETF Applications Await Approval
- Ark Investment Management sold over $21 million worth of Grayscale Bitcoin Trust (GBTC) shares last month
- Possible reasons include taking profits, believing its own Bitcoin ETF will get approved, or becoming less bullish on crypto overall
- Grayscale has applied to convert GBTC into a spot Bitcoin ETF, Ark and 21Shares have also applied
- Some predict Bitcoin ETF approvals will begin early next year
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