Oddbean new post about login | logout JUST IN: Cathie Wood's ARK bought $92m worth of Bitcoin ETF shares in $BITO yesterday after selling all of its GBTC holdings https://image.nostr.build/f89b378986d53ab8a51d58275d2a505dd08f3e836a1fbfb4375bb75b50ad5441.jpg
GBTC will remain the biggest hodler. Allocation to another ETF that will still be governed by the same rules means little for Greyscale as any fiat allocation means the fund needs to buy bitcoin at OTC prices on the spot, driving the price if the underlying bitcoin 🤔
Congratulations to Cathie Wood's
