Cathie Wood’s ARK Invest Sells GBTC Ahead of Possible Bitcoin ETF Approval

• Cathie Wood’s ARK Invest sells GBTC shares ahead of potential Bitcoin ETF approval, marking ARK’s first GBTC sale since November 2021
• Marinade Finance blocks UK users from accessing its Solana DeFi platform due to regulatory concerns about UK Finance Authority rules
• Recent actions by crypto companies indicate increasing regulatory pressures in the UK market, though full impact of new regulations remains uncertain

Recent actions by major crypto companies indicate increasing regulatory pressures in the UK crypto market. However, the full impact of new UK crypto regulations remains to be seen.

Cathie Wood’s ARK Invest Sells GBTC Ahead of Possible Bitcoin ETF Approval

ARK Investment Management, led by Cathie Wood, sold $25 million worth of Grayscale Bitcoin Trust shares from its ARK Next Generation Internet ETF on October 23. This is ARK’s first GBTC sale since November 2021. The sale comes as speculation mounts that the SEC may approve ARK’s filing for a spot Bitcoin ETF.

Marinade Finance Blocks UK Users Due to Regulatory Concerns

Marinade Finance, the largest DeFi protocol on Solana, has reportedly started blocking UK users from accessing its platform due to regulatory concerns. Marinade cited “compliance concerns relating to rules and regulations promulgated by the UK Finance [Conduct] Authority.” The move comes after recent regulatory crackdowns in the UK crypto market.

Conclusion

The crypto regulatory environment in the UK remains in flux. While increased regulation aims to provide greater consumer protection, it is also forcing some companies to limit services. The full impact on the UK crypto industry remains uncertain. Companies and investors alike will be closely watching regulators’ next moves.