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.
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