EddieJayonCrypto

 28 Dec 23

tl;dr

As the SEC's expected approval of the spot Bitcoin ETF approaches, the offloading of crypto stocks continues, with reports of Coinbase executives selling positions in $COIN stock and Ark Invest selling all remaining stocks of Grayscale Bitcoin Trust (GBTC). Additionally, Cathie Wood's asset manageme...

Offloading of crypto stocks continues as SEC's expected approval of the spot Bitcoin ETF looms. Reports of Coinbase executives selling positions in $COIN stock, and Ark Invest selling all remaining stocks of Grayscale Bitcoin Trust (GBTC). As the SEC's expected approval of the spot Bitcoin ETF approaches, the offloading of crypto stocks continues, with reports of Coinbase executives selling positions in $COIN stock and Ark Invest selling all remaining stocks of Grayscale Bitcoin Trust (GBTC).


Additionally, Cathie Wood's asset management firm is adjusting its portfolio ahead of the spot Bitcoin ETF approval, potentially as a move to safeguard from potential risks associated with market corrections ahead of the January 10, 2024 deadline. Wood has expressed a positive outlook regarding the discussions around Bitcoin ETF filings with SEC officials, indicating encouraging progress.

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