SQ - Cathie Wood's ARK Fund Exits Grayscale Bitcoin Trust Ahead Of SEC Decision Citing 'Abundance Of Caution' | Benzinga
One of Cathie Wood’s funds, the ARK Next Generation Internet ETF (NYSE:ARKW), has offloaded its entire stake in the Grayscale Bitcoin Trust (OTC:GBTC) ahead of the U.S. Securities and Exchange Commission's (SEC) decision on Bitcoin ETFs.
What Happened: Wood's fund offloaded the remaining 2.25 million Grayscale Bitcoin Trust shares on Wednesday, according to a report by Bloomberg.
The company also procured 4.32 million shares of the ProShares Bitcoin Strategy ETF (CRYPTO: BTC), making it the fund’s second-largest holder per Ark Investment Management LLC‘s daily data.
Wood told Bloomberg Television that the decision was made "out of an abundance ...