{"id":25351,"date":"2023-12-30T01:10:16","date_gmt":"2023-12-30T01:10:16","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ark-etf-sells-grayscale-shares-and-buys-proshares\/"},"modified":"2023-12-30T01:10:16","modified_gmt":"2023-12-30T01:10:16","slug":"ark-etf-sells-grayscale-shares-and-buys-proshares","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ark-etf-sells-grayscale-shares-and-buys-proshares\/","title":{"rendered":"ARK ETF Sells Grayscale Shares and Buys ProShares"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Cathie Wood\u2019s ARK Invest, managing the ARK Next Generation Internet ETF, on Wednesday sold its entire stake of 2.25 million shares in Grayscale\u2019s Bitcoin Trust (GBTC). The sale was executed simultaneously with the purchase of 4.32 million shares in the ProShares Bitcoin Strategy ETF, which offers exposure to Bitcoin futures.<\/p>\n<p>This strategic adjustment aligns with growing anticipation around the U.S. Securities and Exchange Commission\u2019s (SEC) potential approval of the first U.S. spot Bitcoin ETF, expected on January 10th. The SEC had previously rejected Grayscale\u2019s application to transform its GBTC into a spot Bitcoin ETF. Following this rejection, Grayscale sued the SEC, leading to a recent federal court decision that instructed the SEC to revisit Grayscale\u2019s application to avoid being arbitrary and inconsistent.<\/p>\n<p>Cathie Wood explained the divestment from GBTC as a precautionary measure, considering the uncertainty surrounding the SEC\u2019s decision on the trust\u2019s conversion to a spot market Bitcoin ETF. Wood\u2019s statement, as reported by Bloomberg, emphasizes the uncertainty in the approval process: <em>\u201cWe don\u2019t know exactly who\u2019s going to be approved and whether they\u2019ve met all the criteria that the SEC has put before us. We\u2019re as optimistic about Bitcoin as we\u2019ve ever been.\u201d<\/em><\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/ark-etf-sells-grayscale-shares\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Cathie Wood\u2019s ARK Invest, managing the ARK Next Generation Internet ETF, on Wednesday sold its entire stake of 2.25 million shares in Grayscale\u2019s Bitcoin Trust (GBTC). The sale was executed simultaneously with the purchase of 4.32 million shares in the ProShares Bitcoin Strategy ETF, which offers [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":25352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25351"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=25351"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25351\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/25352"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=25351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=25351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=25351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}