Bloomberg Analyst: Ark sells GBTC to balance weight
Bloomberg analyst Eric Balchunas wrote on X platform that Ark sold GBTC to balance weight. In its investment portfolio, Ark likes to sell winners (and vice versa) to maintain the required weight. Since GBTC has risen 76% since August, ARK "must" sell many shares to maintain a weight of around 9%.
Earlier news, since October 23, ARK Next Generation Internet ETF (ARKW) has sold more than 700,000 shares of Grayscale Bitcoin Trust Fund GBTC.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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