Cathie Wood’s ARK Invest Company Sold Over 200,000 Grayscale Bitcoin Trust Shares!

  • ARK sold 201,047 GBTC shares from the Next Generation Internet ETF (ARKW) fund. The value of the shares was $6.03 million based on the closing price on Friday.
  • GBTC continues to be the largest asset of ARKW with a weight of 9.97%, which is approximately $132 million in value.
  • The trust has risen by about 250% in 2023, nearly double the approximately 123% increase in Bitcoin (BTC) this year.

Cathie Wood’s ARK Invest company executed sales in Grayscale’s Bitcoin Trust assets: Over 200,000 GBTC shares were sold.

ARK Invest Selling GBTC Shares

cathie-wood-bitcoin

Cathie Wood’s ARK Invest sold over 200,000 GBTC shares on November 10 when Grayscale Bitcoin Trust (GBTC), a Bitcoin investment vehicle, gained approximately 10%. ARK sold 201,047 GBTC shares from the Next Generation Internet ETF (ARKW) fund. The value of the shares was $6.03 million based on the closing price on Friday.

GBTC continues to be the largest asset of ARKW with a weight of 9.97%, which is approximately $132 million in value. The sale followed approximately $5.7 million in smaller transactions over a few days earlier in the week.

GBTC shares gained about 10% last week, dropping from around $27.35 to just below $30. The trust has risen by about 250% in 2023, nearly double the approximately 123% increase in Bitcoin (BTC) this year.

Expectations for an ETF in GBTC have excited the community

Grayscale Investments achieved a legal victory against the U.S. Securities and Exchange Commission (SEC) in August, which rejected the application to convert GBTC into a spot bitcoin exchange-traded fund (ETF). Last week, the SEC began discussions with Grayscale about the details of its application; this has been considered a significant factor in the recent crypto rally in the United States regarding the possibilities of listing a spot ETF.

BREAKING NEWS

Binance Refutes CJ’s False X Claims, Affirms No Listing Fees and Vows Legal Action to Protect BNB Listings

COINOTAG reported that on October 15 Binance publicly rebutted...

Insider Whale Closes $500M Bitcoin Short on Hyperliquid, Nets $5M After October 10 Crash

COINOTAG News and MLM Monitor report that the market...

BINANCE REFUTES CLAIMS ABOUT CHARGING FOR LISTING FEES AND DUMPING TOKENS, RESERVES RIGHTS TO TAKE LEGAL ACTION: X

BINANCE REFUTES CLAIMS ABOUT CHARGING FOR LISTING FEES AND...

STRIPE ADDS STABLECOIN PAYMENTS FOR SUBSCRIPTIONS – BBG

STRIPE ADDS STABLECOIN PAYMENTS FOR SUBSCRIPTIONS - BBG
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img