Breaking: Cathie Wood Sells Off All Remaining Grayscale GBTC Stocks

As the deadline for the U.S. Securities and Exchange Commission’s (SEC) expected approval of the spot Bitcoin ETF looms, the offloading of crypto stocks continues. After reports said Coinbase executives sold positions in the $COIN stock, Cathie Wood’s asset management firm Ark Invest is said to have sold all the remaining stocks of Grayscale Bitcoin Trust (GBTC).

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Preparing For Grayscale Bitcoin ETF?

While the wider financial markets become increasingly confident of the SEC’s approval of the spot Bitcoin ETF before the deadline of January 10, 2024, it remains to be seen how crypto stocks would perform in the lead up to the deadline. In this context, Bitcoin Magazine informed on X platform that Cathie Wood decided to offload all the remaining stocks of the Grayscale GBTC.

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