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Cathie Wood Swaps GBTC for BITO: Big Move in the Bitcoin ETF Game!
#CathieDWood ARK Invest has made a bold move, selling off all their remaining GBTC shares and using half the proceeds (around $50 million) to buy BITO, the ProShares Bitcoin futures ETF. This could signal a shift in strategy for ARK and potentially the broader #BitcoinETF landscape.
Why the switch?
Analysts speculate ARK chose #BitOK for its liquidity and potentially lower fees compared to GBTC. BITO tracks Bitcoin futures contracts, while GBTC holds actual Bitcoin, which can make it less liquid and more expensive to trade.
What could this mean for BITO and Bitcoin?
ARK's investment could bring increased attention and trading volume to BITO. This could be positive for the Bitcoin market overall, potentially boosting both BITO's price and Bitcoin's.
Stay tuned! This is a developing story and could have significant implications for Bitcoin and the ETF market. Keep an eye out for updates and analysis!
Share your thoughts! Do you think ARK made the right move? What does this mean for the future of Bitcoin ETFs? Discuss in the comments!
#NFP #Launchpool
$BTC $ETH $SOL
Why the switch?
Analysts speculate ARK chose #BitOK for its liquidity and potentially lower fees compared to GBTC. BITO tracks Bitcoin futures contracts, while GBTC holds actual Bitcoin, which can make it less liquid and more expensive to trade.
What could this mean for BITO and Bitcoin?
ARK's investment could bring increased attention and trading volume to BITO. This could be positive for the Bitcoin market overall, potentially boosting both BITO's price and Bitcoin's.
Stay tuned! This is a developing story and could have significant implications for Bitcoin and the ETF market. Keep an eye out for updates and analysis!
Share your thoughts! Do you think ARK made the right move? What does this mean for the future of Bitcoin ETFs? Discuss in the comments!
#NFP #Launchpool
$BTC $ETH $SOL
Bitok 👑 after a small correction, continued to grow and apparently has already completed the movement in the 5-wave impulse, everything is clearly according to our scenario!
At the moment we would like to see a correction to the impulse. I expect to see the price in the area of 0.5-0.618 Fibo ~40600$.
It's scary to short, they may drag it up, so I advise to just wait for alta in more pleasant areas to buy.
#Write2Earn #TradeNTell #BitOK $BTC
At the moment we would like to see a correction to the impulse. I expect to see the price in the area of 0.5-0.618 Fibo ~40600$.
It's scary to short, they may drag it up, so I advise to just wait for alta in more pleasant areas to buy.
#Write2Earn #TradeNTell #BitOK $BTC
Breaking News-
#Hamas Received $41M In #CryptoDonations Over 3 Years, Israel Moves To Seize Wallets Hamas earned a remarkable $41 million in bitcoin donations between August 2021 and June 2023, according to Elliptic, a #blockchain analytics company, according to the Wall Street Journal.
The information was provided by the forensics business Elliptic and the Tel Aviv software firm #BitOK , and it indicated the rising fear that cryptocurrencies are being utilised as a source of funding for organisations and countries that operate outside the U.S.-controlled international banking system.
Yoav Gallant, the Israeli defence minister, stated in a Wall Street Journal interview that solving this problem would not be simple, saying, "This is not an easy task."
⚠️⚠️ THIS IS NOT A FINANCIAL ADVICE ALWAYS #DYOR
#Hamas Received $41M In #CryptoDonations Over 3 Years, Israel Moves To Seize Wallets Hamas earned a remarkable $41 million in bitcoin donations between August 2021 and June 2023, according to Elliptic, a #blockchain analytics company, according to the Wall Street Journal.
The information was provided by the forensics business Elliptic and the Tel Aviv software firm #BitOK , and it indicated the rising fear that cryptocurrencies are being utilised as a source of funding for organisations and countries that operate outside the U.S.-controlled international banking system.
Yoav Gallant, the Israeli defence minister, stated in a Wall Street Journal interview that solving this problem would not be simple, saying, "This is not an easy task."
⚠️⚠️ THIS IS NOT A FINANCIAL ADVICE ALWAYS #DYOR
