Ark Labs emerged, launching its new
Bitcoin Layer 2 payments network, positioning itself as a competitor to Lightning Network.
ARK Invest, led by Cathie Wood, divested from the billion-dollar Ethereum ETF race while its investment in bitcoin futures ETF grew. They cited the change as a response to the unresolved fee war. Despite this, ARK Invest continued to rebalance its investments, with a significant reduction in shares of Coinbase Global Inc. ARK also halted its Spot Ethereum ETF plans amongst declining interest. Major sales of Coinbase shares impacted COIN’s stocks negatively, despite some positive market movements. ARK and 21Shares abandoned staking plans from their Ethereum ETF proposal. Wood remains optimistic, forecasting the price of Bitcoin hitting $1 million by 2030.
Elon Musk’s AI venture received investment from ARK, showing their commitment to innovation. Unencumbered by market uncertainties, ARK continued with aggressive investments, setting up competitive portfolios amidst a steaming Bitcoin rally.
Bitcoin ETFs, backed by ARK, attracted substantial capitals despite ARK’s recent disengagement with Coinbase shares. Cathie Wood remains bullish about Bitcoin, reinforcing the vision for it to replace Gold in the future. Lastly,
Wood suggested that SEC could approve multiple Spot Bitcoin ETFs simultaneously, promising a potential boom in the industry.
ARK Coin News Analytics from Tue, 28 Nov 2023 08:00:00 GMT to Sun, 16 Jun 2024 18:32:22 GMT -
Rating 8
- Innovation 6
- Information 9
- Rumor 6
