Analysis Crypto by Thebittimes.Com

International ETF provider WisdomTree has submitted a revised Form S-1 for its Bitcoin ETF prospectus to the United States Securities and Exchange Commission (SEC) on Nov. 16.  This update follows WisdomTree’s resubmission of its spot Bitcoin ETF application in June 2023. Ongoing intentions The WisdomTree Bitcoin Trust ETF will be traded under the ticker BTCW in the revised prospectus. The custodial responsibility for safeguarding all of the trust’s Bitcoin assets will be entrusted to Coinbase Custody Trust. You might also like: Franklin Bitcoin ETF yet to see indication of delay order Bloomberg’s ETF analyst, James Seyffart, highlighted that the recent adjustments in the Form S-1 filing for the spot Bitcoin ETF by WisdomTree indicate the firm’s ongoing intentions to introduce an ETF and indicate that the firm is still in talks with the corporate finance division, a normal step in the process. Further delays At the same time, Mike Belshe, the CEO...

ARK Invest, investor Cathie Wood’s firm, sold 66,342 units of Grayscale Bitcoin Trust (GBTC) for $1.66 million, at a closing price of $25.07 on Oct. 28, 2023. The price of Bitcoin (BTC) currently sits at $34,434. ARK Invest capitalizes on market recovery Recent reports indicate that Wood, who founded ARK Invest in 2014, has been reshaping her portfolio. Wood divested Grayscale Bitcoin Trust (GBTC) shares while acquiring shares in a cryptocurrency-related stock.  On Oct. 28, the fund sold 66,342 units of GBTC, amounting to $1.66 million based on the closing price of $25.07.  This sale aligns with the broader pattern of ARK Invest divesting GBTC shares, involving the sale of approximately $2.5 million in GBTC shares on Oct. 24. Ark Invest also sold GBTC shares in three sessions that week. On Oct. 24, around $2.5 million worth of GBTC shares were sold, equivalent to approximately 2% of ARK’s holdings in the trust. The following day, Oct. 25, ARK Invest sold about $1.8 ...