---
title: "ARK sells remainder of GBTC holdings, invests $100M in Bitcoin ETF"
url: https://diffcoin.com/ark-sells-remainder-of-gbtc-holdings-invests-100m-in-bitcoin-etf/
description: "Cathie Wood-led institutional asset management firm ARK Invest liquidated its entire remaining Grayscale Bitcoin Trust (GBTC) holdings worth $200 million…"
published: 2023-12-28
updated: 2023-12-28
author: "Mila"
site: "Diffcoin"
---

# ARK sells remainder of GBTC holdings, invests $100M in Bitcoin ETF

Cathie Wood-led institutional asset management firm ARK Invest liquidated its entire remaining Grayscale Bitcoin Trust (GBTC) holdings worth $200 million on Dec. 28, revealed Bloomberg ETF analyst Eric Balchunas.

> Today ARK sold its entire remaining [$GBTC](https://twitter.com/search?q=%24GBTC&src=ctag&ref_src=twsrc%5Etfw) position (it was ARKW’s biggest holding only a month ago) and used half the money $100m-ish to buy [$BITO](https://twitter.com/search?q=%24BITO&src=ctag&ref_src=twsrc%5Etfw), likely as liq transition tool to keep beta to btc while it legs into [$ARKW](https://twitter.com/search?q=%24ARKW&src=ctag&ref_src=twsrc%5Etfw) or [$ARKB](https://twitter.com/search?q=%24ARKB&src=ctag&ref_src=twsrc%5Etfw). End of an era. h/t [@DilksJay](https://twitter.com/DilksJay?ref_src=twsrc%5Etfw) [@funwithnumberz](https://twitter.com/funwithnumberz?ref_src=twsrc%5Etfw) [pic.twitter.com/J1i92qcmzo](https://t.co/J1i92qcmzo)
> 
> — Eric Balchunas (@EricBalchunas) [December 28, 2023](https://twitter.com/EricBalchunas/status/1740194923608178920?ref_src=twsrc%5Etfw)

The investment firm used half of the money, about $100 million, from the sale of GBTC to invest in Bitcoin Futures ETF Bito. However, ETF analysts believe it’s a temporary parking spot for the investment firm as it looks for a more liquidity-rich portfolio. Bloomberg ETF analyst Eric Balchunas said this latest investment shift by Ark has made it the second-largest Bito holder.

ARK Invest started off-loading GBTC shares in October when the Bitcoin price first hit $34,000; at the time, the investment firm sold 100,739 GBTC shares worth $2.5 million from its ARK Next Generation internet ETF (ARKW). The firm sold another 809,441 GBTC shares on Dec. 19 worth $27.9 million.

Apart from dumping the GBTC, ARK Invest also liquidated 148,885 Coinbase shares worth $27.5 million from its ARK Next Generation internet ETF (ARKW). The latest investment move by the asset management firm comes at a crucial juncture when there is intense speculation around the approval of a spot Bitcoin ETF.

> Cathie Wood and Ark Invest’s trade activity from today 12/27 [pic.twitter.com/WrKtFlNKoD](https://t.co/WrKtFlNKoD)
> 
> — Ark Invest Daily (@ArkkDaily) [December 28, 2023](https://twitter.com/ArkkDaily/status/1740186119776661844?ref_src=twsrc%5Etfw)

***Related:*** ***BlackRock, ARK revise Bitcoin ETF plans along SEC’s cash-only model***

ETF analysts like Balchunas have given a 99% chance of approval for a Bitcoin ETF before the deadline of Jan.10, 2024. ARK Invest CEO Cathie Wood, a known Bitcoin proponent, has said that the chances of a spot Bitcoin ETF are high.

During a recent interview, Wood said that growing anticipation around the potential approval of spot Bitcoin ETFs could negatively impact the BTC price in the short term, but the long-term perspective is promising.

***Magazine:*** ***SEC delays Ether ETFs, Binance settlement approved and another court loss for SBF: Hodler’s Digest, Dec. 17–23***

[Source link](https://cointelegraph.com/news/ark-sells-gbtc-holdings-invests-100m-bitcoin-etf)