Cathie Wood discusses reasons for selling all GBTC holdings: current tax and regulatory uncertainties.

According to a BlockBeats report on December 28th, Bloomberg ETF analyst Eric Balchunas shared that Cathie Wood discussed selling GBTC holdings on BBTV, stating that "there is currently tax and regulatory uncertainty surrounding GBTC. We don't know who will get approval. We know we have met the conditions, but we are not sure about others. In addition, the discount has significantly narrowed, which is a double positive for us." Previously, Balchunas had stated that ARK Invest had sold all of its remaining GBTC positions (which were the largest holdings of ARKW a month ago) and used half of the funds to purchase shares of the ProShares Bitcoin Futures ETF (BITO), possibly as a liquidity transition tool to maintain its beta with Bitcoin when transitioning to ARKW or ARKB.