Tuesday, 27 February 2024

Crypto News

Ark Invest dumps GBTC for BITO as Meme Moguls token sale gathers pace

SEC delays Ark Invest spot Bitcoin ETF application

  • Cathie Wood’s investment firm Ark Invest has sold all of the Grayscale Bitcoin Trust (GBTC) shares it held. 
  • The firm bought 4.32 million of the ProShares Bitcoin Strategy ETF (BITO).
  • Meanwhile, the presale of new meme-based assets platform Meme Moguls has continued to attract investors.

Ahead of what could be a spectacular start to the year for crypto, Cathie Wood’s firm Ark Invest is making moves in the market with relation to its crypto related holdings.

Elsewhere, investors lifted by the recent developments in the sector are taking notice of potentially profitable positions. Among projects making waves in Meme Moguls, a token in presale that’s likely to dominate the forecast $6.1 billion meme market industry.

Cathie Wood’s Ark sells GBTC, buys BITO

One of the news headlines today is the move by asset management firm Ark Invest. 

According to details reported by Reuters, the Cathie Wood firm offloaded all of its Grayscale Bitcoin Trust (GBTC) shares. The firm then scooped about 4.32 million shares of the ProShares Bitcoin Strategy ETF (BITO). Ark has also sold shares of Coinbase (COIN).

The move comes as the crypto market anticipates the approval of the first spot Bitcoin ETF by the US Securities and Exchange Commission (SEC).

Ark Invest and 21Shares are also among the list of top asset managers and companies with Bitcoin ETF proposals before the SEC. 

The deadline for the SEC’s decision on Ark Invest’s proposal is January 10, and analysts are confident the regulator will give a nod to a number of the applications. It includes filings by BlackRock, Grayscale and Fidelity.

Anticipation is high across the crypto market and investors keen to seize on the opportunities likely to present during a bull rally are looking at various altcoins. One of these is likely to be Meme Moguls, as suggested by the rising interest in its presale.

Meme Moguls: Innovative meme-based assets trading and game platform

As investors make moves across the space, positioning ahead of a potentially defining bull market, a new narrative is picking momentum. Trading can be fun and fantasy meme trading brings that to the trader out to connect, learn, and earn as they buy, trade and sell meme assets.

This new project is Meme Moguls, which is outlining an innovative meme-based assets trading exchange and gaming platform.

Today, meme coins are an…

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