Ahead of a potential prosperous start to 2021 for the crypto industry, Cathie Wood’s Ark Invest is making changes to its crypto portfolio. According to Reuters, the firm sold all of its Grayscale Bitcoin Trust (GBTC) shares and purchased 4.32 million shares of the ProShares Bitcoin Strategy ETF (BITO). Additionally, Ark Invest sold its holdings in Coinbase (COIN).
These changes come as the crypto market awaits the US Securities and Exchange Commission’s (SEC) decision on the first Bitcoin ETF. Ark Invest and 21Shares are among the firms and companies with ETF proposals before the SEC. The decision is due on January 10th, and it is expected that the SEC will approve the applications of BlackRock, Grayscale and Fidelity.
As investors gear up for the upcoming bull market, a new project is gaining traction. Meme Moguls is a token in the pre-sale stage that is aiming to become the leader in the forecast $6.1 billion meme market industry. The project plans to create an innovative meme-based assets trading exchange and gaming platform. 60% of the total supply of 3 billion MGLS tokens will be available to early investors, at a price of $0.002. The price of MGLS has already risen to $0.0025 in the third stage of the pre-sale, and the presale page shows that only a few tokens remain before the next price increase.
Overall, the crypto market is looking to an exciting year ahead, with new projects and opportunities for investors to capitalize on.
