Yunus Taşlı 
Ark Invest(ARKW) sold off rising Coinbase and GBTC shares alongside the rising value of cryptocurrencies in recent days.
In recent days there has been rapid growth in the cryptocurrency markets. Due to expectations that the SEC will approve spot Bitcoin ETFs, the Bitcoin price rose to 35,000 dollars. Following these events, Ark Invest(ARKW) announced that it had sold shares of Coinbase and GBTC, which have been rising alongside the rise in cryptocurrency markets.
You might like: Deutsche Bank Completes First Stablecoin Swap
According to the information received, the company sold a total of 42,613 Coinbase shares and 100,739 shares of the Grayscale Bitcoin Trust(GBTC). Also preserving spaces, ARKW sold Coinbase shares at 77.21 dollars and GBTC shares at 24.71 dollars each, making a total of 5.8 million dollars from both stocks. Ark’s Next Generation Internet ETF (ARKW) also announced that it had sold 32,158 shares.
The SEC did not object to the most recent decision regarding the Grayscale case. This suggests that the SEC could approve Grayscale’s Spot Bitcoin ETF application. It is estimated that the SEC will approve many ETFs in the coming days.
Currently, there are 12 spot Bitcoin ETF applications. The most important one, Blackrock‘s ETF application, is rumored to be approved soon. If approved, the Bitcoin price is expected to rise swiftly, according to analysts. For these applications, a joint spot Bitcoin ETF application has been placed by Ark Invest and 21Shares.
In the comment section, you can freely share your comments and opinions about the topic. Additionally, don’ t forget to follow us on Telegram, YouTube, and Twitter for the latest news and updates.