As the deadline for Bitcoin Spot ETF applications approaches, Cathie Wood-guided American investment management firm Ark Investment has executed a significant strategic shift by divesting its entire Grayscale Bitcoin Trust (GBTC) holdings. This marks a significant change in Ark Invest portfolio.

Bloomberg Intelligence ETF analyst Eric Balchunas shared this development on December 28. He noted that this move transpired within a month of GBTC becoming the largest holding in ARKW’s portfolio.

Today ARK sold its entire remaining $GBTC position (it was ARKW's biggest holding only a month ago) and used half the money $100m-ish to buy $BITO, likely as liq transition tool to keep beta to…

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