Ark Investment Plans to Sell 770000 Shares of GBTC Within a Month Bearish on Bitcoins Future Analyst Overthinking

Contents
Toggle
ARK Invest Sells GBTC, Bearish on Bitcoin Market?
Analysts Say It’s Just Fund “Rebalancing”
According to statistics, ARK Invest’s ARK Next Generation Internet ETF (ARKW) has been selling GBTC since October. As of October 20th, approximately 770,000 shares of GBTC have been sold, with a total value of around $23.1 million at current prices.
There have been various interpretations of this move in the market. Some believe that ARK Invest has started to profit from its Bitcoin exposure, indicating a conservative short-term outlook on the market. Others think that ARK Invest is gradually reducing its GBTC holdings to potentially invest in its own Bitcoin spot ETF – ARKB in the future.
However, Bloomberg analyst Eric Balchunas believes that these speculations in the market might all be wrong. The reason for ARK Invest selling GBTC could simply be due to “rebalancing” their fund’s investment portfolio.
Furthermore, Eric Balchunas further stated that to truly understand ARK Invest’s sentiment towards the market or assets, one should focus not on buying and selling transactions, but on the changes in the weight of each asset in the investment portfolio.
Another analyst, James Seyffart, agrees with this view and cites ARK Invest’s selling of Tesla stocks in 2020 as an example. During Tesla’s surge, ARK Invest sold a significant amount of stocks, but Tesla’s weight in their fund remained around 10%, which is a standard practice for an “active” fund.