Ark Labs has recently commenced to establish a fresh Bitcoin
Layer 2 payments network. This initiative is due to the anticipation that Bitcoin is on the brink of another rally, as reiterated by
ARK Invest. Nevertheless, ARK decided to withdraw its proposed Ether exchange-traded fund (ETF) mainly because of the current fee war situation. Characteristically, the
Bitcoin price has been somewhat volatile but managed to stay above $65,000. Neither the volatility nor the alleged choppiness in Bitcoin dissuaded Cathie Wood's ARK, as they are implementing bold moves for Q1 2024. Simultaneously, with Bitcoin holding steady,
ARK's bitcoin ETF observes a conspicuous outflow of $87 million.
Cathie Wood's Ark Invest continues with reconditioning as they sold $52 million worth of COIN.
Notably, despite the uptick in Bitcoin, ARK continues selling Coinbase shares. In the most recent changes, ARK and 21Shares removed the staking plans from the Ethereum ETF proposal. In other developments, 21Shares has incorporated the
Chainlink Proof of Reserve to amplify the transparency of the ARK 21Shares Bitcoin ETF ARKB. Remarkably, despite these constant shifts, ARK’s spot bitcoin ETF documented record $100 million in daily net outflows. ARK CEO Cathie Wood shows her bullish stand on Bitcoin during her discussion with El Salvador's President, acknowledging his vision for a substantial BTC hub. Wood continues to unload Coinbase shares as she transitions towards the IoT infrastructure tech giant, Palantir. Wood, known for her Bitcoin-friendly standpoint, sees Bitcoin reaching $1 million by 2030. Finally, Wood and ark see Bitcoin as a ‘Financial Super Highway’, emphasizing the immense potential of the cryptocurrency, all the meanwhile dumping more Coinbase shares.
ARK Coin News Analytics from Tue, 28 Nov 2023 08:00:00 GMT to Sun, 16 Jun 2024 18:32:22 GMT -
Rating 4
- Innovation 6
- Information 7
- Rumor -6
