Cathie Wood's ARK Invest continued to reduce its holdings of Grayscale Bitcoin Trust (GBTC) on December 11th, selling a total of 395,945 shares worth approximately $12.85 million.

According to Coinglass data, the current Grayscale GBTC negative premium rate is 10.15%, ETH Trust negative premium rate is 14.95%, and ETC Trust negative premium rate is 33.52%. In addition, Grayscale BCH Trust has a premium rate of 62.15% and SOL Trust has a premium rate of 288.06%.

According to Coinglass data, the current Grayscale Bitcoin Trust (GBTC) negative premium rate is 8.09%. Additionally, the Grayscale Litecoin Trust has a premium rate of 28.36%, the Bitcoin Cash Trust has a premium rate of 13.99%, the Zcash Trust has a premium rate of 6.05%, the Solana Trust has a premium rate of 308.53%, and the Filecoin Trust has a premium rate of 713.54%.

Grayscale, the management company of the Grayscale Bitcoin Trust Fund (GBTC), is updating the trust agreement for the first time since 2018. The purpose of this update is to optimize the structure of GBTC in order to achieve the expected upgrade to a spot Bitcoin exchange-traded fund (ETF) and provide a fair competitive environment for asset management giants such as BlackRock. The GBTC update will be subject to shareholder voting, which will involve two proposed modifications to the trust agreement.

Bloomberg analyst Eric Balchunas wrote on X platform that Ark sold GBTC to balance weight. In its investment portfolio, Ark likes to sell winners (and vice versa) to maintain the required weight. Since GBTC has risen 76% since August, ARK "must" sell many shares to maintain a weight of around 9%.<br>Earlier news, since October 23, ARK Next Generation Internet ETF (ARKW) has sold more than 700,000 shares of Grayscale Bitcoin Trust Fund GBTC.

According to Coinglass data, the current GBTC negative premium rate has narrowed to 8.07%. The ETH trust has a negative premium rate of 12.73%, and the ETC trust has a negative premium rate of 33.31%. In addition, the LTC trust has a premium rate of 12.40%, the BCH trust has a premium rate of 13.20%, and the ZEC trust has a premium rate of 1.17%. Earlier, on November 23, the GBTC negative premium rate narrowed to 9.78%, the first time it has narrowed to less than 10% since July 2021.

According to daily trading data compiled by ETF provider Bloomberg, ARK Next Generation Internet ETF has sold over 700,000 shares of Grayscale Bitcoin Trust Fund (GBTC) since October 23, and sold 36,168 GBTC shares this Wednesday. According to the Australian Financial Review, Cathie Wood views Grayscale Bitcoin Trust as her top choice at the Sohn Australia conference held at the Sydney Opera House on Friday. Bloomberg's compiled data shows that as of September 30, ARK was the fourth largest holder of GBTC, holding 5.6 million GBTC shares. (Bloomberg)

Morgan Stanley analysts have stated that since the beginning of this year, traders have been buying Grayscale Bitcoin Trust (GBTC), with the trading price of GBTC being lower than the potential value of the Bitcoin it holds. This is likely in the hopes of earning a profit from the price difference when it is converted into physical Bitcoin ETFs. This means that many GBTC traders will seek to cash out when it is converted into ETFs. Morgan Stanley's analysts have reviewed the fund inflows of GBTC since 2023 to calculate the value of GBTC that may be sold during the conversion. The analysts estimate this number to be approximately $2.7 billion.

According to Coinglass data, the GBTC negative premium rate has narrowed to 9.78%, the first time it has risen to less than 10% since July 2021.

According to Coinglass data on November 23rd, the premium rate of Grayscale GBTC has narrowed to 9.78%, while the premium rate of ETH trust is 13.73%. In addition, the premium rate of ETC trust is 32.45%, the premium rate of LTC trust is 8.07%, and the premium rate of BCH trust is 12.89%.