Ark Investment's Cathie Wood said on Bloomberg television that ARK Next Generation Internet ETF (ARKW) sold all of its remaining 2.25 million shares of Grayscale Bitcoin Investment Trust (GBTC) out of an abundance of cation in case Grayscale's conversion to a spot-Bitcoin ETF is not approved by US regulators in early January, as many expect.
Wood pointed out that GBTC's previously large discount to NAV has shrunken considerably.
"We don't know exactly who's going to be approved and whether they've met all the criteria that the SEC has put before us," Wood said during the interview. "We're as optimistic about Bitcoin as we've ever been."
ARK Next Generation Internet ETF sold 2.25 million shares of Grayscale Bitcoin Investment Trust and bought 4.32 million shares of ProShares Bitcoin Strategy ET (BITO), Bloomberg noted.