Posted 12/28/2023, 5:55:00 PM
ARK Dumps Grayscale Bitcoin Trust for ProShares ETF Amid Spot Bitcoin Hopes
- Cathie Wood's ARK Next Generation Internet ETF sold all its Grayscale Bitcoin Trust shares amid uncertainty around the trust's planned conversion to a spot bitcoin ETF
- The fund bought shares of ProShares' bitcoin futures ETF instead ahead of a January SEC deadline on spot bitcoin ETF applications
- Grayscale's discount to net asset value has narrowed substantially, meaning good news for ARK
- MicroStrategy acquired over 14,000 additional bitcoins, boosting its total holdings to around 189,150
- The moves come as traders expect a spot bitcoin ETF approval, with bitcoin up over 160% in 2022 despite a 40% drop from its peak