Bloomberg analyst: The actual reason for Ark Invest's sale of GBTC is that the latter has reached its position limit.

BlockBeats news on November 27th: Eric Balchunas, a senior ETF analyst at Bloomberg, posted on social media that Ark Invest has been selling GBTC frequently recently. Some in the crypto community believe that they are not really bullish on Bitcoin or are making room for their own Bitcoin ETF. In fact, Ark Invest is selling GBTC to maintain the required investment portfolio weight. Since GBTC has risen by 76% since August, Ark Invest must sell a large amount of stock to maintain its fund's maximum allocation limit of around 9%.