Cathie Wood’s ARK Invest announced on December 11th that it has raised approximately $12.85 million (approximately 1.863 billion yen, at an exchange rate of 1 dollar = 145 yen) from the company’s Next Generation Internet ETF (ARKW). ) sold a significant amount of Grayscale Bitcoin Trust (GBTC).

The sale of 395,945 units from ARKW leaves the fund with a weighting of approximately 6.95% in GBTC, equivalent to approximately $112.7 million (approximately 16.3 billion yen). Ark aims to ensure that its holdings do not exceed 10% of the ETF’s market capitalization.

Crypto asset (virtual currency) management company Grayscale’s Bitcoin (BTC) investment product fell 8.6% to 32.46 on the 11th, reflecting a 5.8% decline in BTC, the largest crypto asset by market capitalization. traded in dollars.

Grayscale hopes to convert Bitcoin Trust into a Bitcoin ETF in January. The U.S. Securities and Exchange Commission (SEC) is expected to approve the company’s application, along with those of 13 other companies, early in the new year.

Ark Invest sold $1.88 million (approximately 270 million yen) of Coinbase stock on the 11th. This follows last week’s sales totaling more than $100 million.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Shutterstock
｜Original text: Cathie Wood’s ARK Invest Offloads Nearly $13M Worth of Grayscale Bitcoin Trust Shares