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Cathie Wood’s Ark Pares Holdings of Top Pick Bitcoin Trust
While Cathie Wood has been touting her bullish stance on Bitcoin in recent months, her firm ARK Investment Management actually cut holdings in the Grayscale Bitcoin Trust. Ark Next Generation Internet ETF has sold more than 700,000 shares of Bitcoin Trust since Oct. 23, according to the ETF provider’s daily trading data compiled by Bloomberg. It offloaded 36,168 shares on Wednesday. Bitcoin Trust enables investors to gain exposure to Bitcoin in the form of security. The sales have taken place even as Bitcoin rose to its highest level since May 2022 earlier this month, rallying despite the uncertainty caused by ... (full story)