- Bitcoin advocate Cathie Wood’s asset management company, Ark Invest, once again unloaded Grayscale Bitcoin Trust (GBTC) assets on Monday.
- Ark Invest, in a transaction observed by COINOTAG, sold approximately 809,441 shares of Grayscale Bitcoin Trust (GBTC) worth about $28 million from the ARK Next Generation Internet ETF.
- Last week, ARK Next Generation Internet ETF (ARKW) sold 12,000 Grayscale Bitcoin Trust shares worth $420,000 on December 15th.
Bitcoin supporter Cathie Wood’s asset management company, Ark Invest, made a high-volume sale of GBTC shares on Monday.
ARK Invest Rapidly Selling GBTC Shares
Bitcoin advocate Cathie Wood’s asset management company, Ark Invest, once again unloaded Grayscale Bitcoin Trust (GBTC) assets on Monday. This marks Ark Invest’s largest sale of Grayscale Bitcoin Trust (GBTC) shares and coincides with a period when the SEC is approaching approval for almost a spot Bitcoin ETF. Additionally, Ark Invest made additional purchases of shares from Jack Dorsey’s Block Inc (SQ).
On December 18th, Cathie Wood’s Ark Invest, in a transaction observed by COINOTAG, sold approximately 809,441 shares of Grayscale Bitcoin Trust (GBTC) worth about $28 million from the ARK Next Generation Internet ETF. This move comes after Ark Invest began liquidating Grayscale Bitcoin Trust (GBTC) assets in late October, amid expectations that the U.S. SEC would approve a spot Bitcoin ETF in early January. The recent sales mark the largest sell-off in the past few years.
Last week, ARK Next Generation Internet ETF (ARKW) sold 12,000 Grayscale Bitcoin Trust shares worth $420,000 on December 15th, sold 45,864 GBTC shares worth $1.6 million on December 13th, and sold 395,945 GBTC shares worth $13 million on December 11th. The GBTC price closed at $34.54 on Monday, rising by 1.29%. Last week, the price reached $36.23, marking a year-to-date rally of 334%.
Ark Fund Acquires Block Inc (SQ) Stocks
While Coinbase shares are still on Ark Invest’s selling list, Cathie Wood once again bought Jack Dorsey’s Block Inc (SQ) shares. Ark Invest last added SQ shares at the beginning of November.
On December 18th, ARK Next Generation Internet ETF (ARKW) purchased 347,692 shares of Block Inc (SQ) valued at over $27 million. The performance of the ARKW fund has increased by 97.01% since the beginning of the year. SQ’s price closed at $73.88 on Monday, decreasing by 0.44%. Block Inc’s share price increased by 6.78% last week and has the potential to continue rising.
