ARK Sells GBTC Shares During Bitcoin Trust Surge and ETF Theory

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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.