ARK Sells GBTC Shares During Bitcoin Trust Surge and ETF Theory

GBTC Shares Sold by ARK Amid ETF Rumours and Bitcoin Trust Surge

The investment firm, ARK, driven by Cathie Wood, has sold 100,739 shares of Grayscale Bitcoin Trust (GBTC) worth $2.5 million from its ARK Next Generation Internet ETF (ARKW). This deal comes as GBTC hit its highest levels since May 2022, surging over 200% year-to-date. It's ARK's first reported GBTC deal since November 2022. Speculation suggests the deal may be associated with ARK expecting a decision from the SEC on its Bitcoin-based ETF filing. ARK may prioritise its own ETF over GBTC, if approved. ARK also traded Coinbase shares but added to its holdings in Robinhood shares.