2023-12-29 00:33:01
Bitcoin and Ethereum retreat, with ARK trades on radar
Bitcoin and retreated this Thursday, 28. AKR’s fund movements were among the big news of the day, at a time when cryptocurrencies continue to maintain the rise in prices achieved throughout 2023.
Yesterday, Cathie Wood’s ARK Next Generation Internet fund purchased more than 4.3 million shares of the Proshares Bitcoin Strategy exchange-traded fund (ETF), according to daily trading disclosures. The purchase came as the ARKW ETF sold all of its 2.2 million shares of the Grayscale Bitcoin Trust ETF, which was worth about $80 million. ARKW also sold 148,885 shares of Coinbase (NASDAQ:) Global.
The main driver for cryptocurrency prices follows expectations for ETF approval in early January, as the US Securities and Exchange Commission (SEC) finalizes its discussions with potential issuers. The SEC has indicated to interested companies that it will give the green light to proceed by January 10, according to the Fox Business, citing close sources. The top cryptocurrency has mostly traded between $41,000 and $44,000 since early December, but has more than doubled in value by 2023.
At around 5:15 pm (Brasília time), bitcoin fell 1.66%, to US$ 42,503.46 (R$ 206,091.16) and fell 0.03%, to US$ 2,353.61 (R$ 11,431.29 ), according to Coinbase.
*With information from Dow Jones Newswires.
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