Accéder au contenu principal

Ark Invest Offloads GBTC Shares As Bitcoin Spot ETF Brews On Horizon

As the much-awaited deadline for Bitcoin Spot ETF applications is drawing near, Ark Investment Management under the direction of Cathie Wood has sold off its entire Grayscale Bitcoin Trust (GBTC) holdings.

Ark Invest Bitcoin Investment Strategy Shift

Bloomberg Intelligence ETF analyst Eric Balchunas recently reported the development on X (formerly Twitter) on Thursday, December 28. According to him, this strategic move came within a month after Grayscale Bitcoin Trust (GBTC) became ARKW’s largest holding.

Ark Invest selling off its entire GBTC might be due to the anticipation of the Bitcoin Spot Exchange-Traded Fund (ETF) approval before the deadline on January 10, 2024. 

The Bloomberg analyst also pointed out that Ark Invest used half of the money valued at $100 million to purchase BITO, the ProShares Bitcoin Strategy ETF. This move to the BITO – ProShares ETF, which was introduced in October 2021, signifies a pivotal change to its investment approach.

Balchunas noted that the shift is likely a part of the firm’s plan to utilize BITO as a liquid transition tool. This will maintain beta for Bitcoin before ARK Next Generation Internet ETF ($ARKW) and ARK 21Shares Bitcoin spot ETF ($ARKB) are launched.

With the investment in BITO, Ark Invest has risen to the position of the second largest owner of Proshares Bitcoin Strategy ETF shares. However, the Bloomberg analyst has pointed out that “this is a temporary parking spot.”

Furthermore, Balchunas highlighted how institutional investors often carry out these kinds of transitions. “They (and institutions generally) use highly liq ETFs for transitions like this,” he stated.

The analyst also noted that the predictions that were made a month ago have been realized. He emphasized that in addition to being strategic, this action is also meant to increase the assets under management (AUM) of their ETFS.

As a result of this, their investors will potentially benefit from their investments by optimizing expense ratios. “Better to give your own ETF a nice aum boost while saving your investors on a big ann big exp ratio,” he stated.

Grayscale’s Adjustments To Its BTC Spot ETF Filing

Grayscale, one of the largest asset management companies has submitted an updated S-3 for its Bitcoin spot ETF. James Seyffart, a Bloomberg analyst shared the information with the crypto community on X

The asset management firm filed the updated document on December 26, with the United States Securities and Exchange Commission (SEC). In the updated filing, Grayscale will now only take cash orders for its ETF investments, while implementing the cash-only policy.

The filing read:

At this time an Authorized Participant can only submit Cash Orders, pursuant to which the Authorized Participants will deposit cash into, or accept cash from the Cash Account in connection with the creation and redemption of Baskets.

So far, this move was made by the firm to maintain its leadership in the BTC spot ETF race. 

BTC trading at $42,950 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com




Source link

The post Ark Invest Offloads GBTC Shares As Bitcoin Spot ETF Brews On Horizon appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Jojobet (464)

Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Geri dönüşü yüksek bir heyecana hazır olun! Heybetli rekabet atmosferinde keyifli bir oyun deneyimi sunan öncü bir bahis platformuna hoş geldiniz. İnternetin en güvenilir ve güçlü adreslerinden biri olarak, size en üst düzey kalite standartlarına sahip online bahis fırsatlarını sunmaktan gurur duyuyoruz. Bahis ve şans oyunları tutkunlarının beklentilerini aşan kapsamlı hizmetlerimizle sizi unutulmaz bir yolculuğa çıkarmak için buradayız. Profesyonel ekibimiz, Türkiye’nin en donanımlı ihtiyaçlarına uygun olarak sürekli yenilenen bahis seçenekleriyle geniş bir kumarhane atmosferi ile etkileyici deneyimler sunar. Farklı spor dallarında eşsiz tahmin ve analiz araçlarıyla dolu olan platformumuz, kazandıran oranlarla sizden tam not alacaktır. En yeni teknolojik yazılım alt yapımız sayesinde, kesintisiz ve sorunsuz oyunculuk deneyiminin tadını çıkarabilirsiniz. Şansın, yetene...
Enregistrer un commentaire
Lire la suite

Space loves AI, AI doesn’t love Space

Space-related applications of artificial intelligence and machine learning are often confined to the ground because moving AI onboard satellites, while promising, is significantly more difficult. “Running AI in space is like running a marathon on the moon — impressive if achieved, but limited by the environment,” said Sylvester Kaczmarek, chief technology officer at OrbiSky Systems, a London startup focused on AI edge operations. Advanced processors are power hungry, meaning satellites with onboard AI require large solar panels and extra batteries. Plus, “radiation in space can fry electronics,” Kaczmarek said. Power management is another problem. Many AI devices require very high currents at low voltages. “The demands that AI devices place on power management are new to the space industry,” said Bert Vermeire, Voyager Space chief technology officer. “There are no good solutions with space heritage and it is difficult to identify efficient and small form factor power and manageme...
Enregistrer un commentaire
Lire la suite

Earn BIG Commissions in 2023

In this post, we’re looking at the best niches for affiliate marketing . So, if you’re struggling to choose a niche for your blog or YouTube channel, this list will help. In this list, you’ll learn some key information to help you determine which is the right niche to choose for you. Information like: How big the niche is and its market share The products you can promote Sub niche ideas And some commission rates you can expect Keep reading. Best Niches for Affiliate Marketing We’ve researched and broken down 21 of the best niches for affiliate marketing, so you don’t have to. Let’s dive in. 1. Artificial Intelligence The Artificial Intelligence industry has exploded in recent years and is projected to be valued at close to US$2 trillion by 2030. That’s what makes this one of the best niches for affiliate marketing today. There is also a wide range of AI tools to promote with generous commissions. For example, LinkWhisper is an AI content optimization tool for SEO of...
Enregistrer un commentaire
Lire la suite