ARK Sells $28M Grayscale Bitcoin Trust Shares as Bitcoin Nears $43K
Cathie Wood’s ARK continues to trim its holdings of the Grayscale Bitcoin Trust ( $Grayscale Bitcoin Trust(GBTC.US$ ) as the discount narrows and bitcoin ( $Bitcoin(BTC.CC$ ) nears $43,000.
A disclosure from ARK shows that ARK Next Generation Internet ETF ( $ARK Next Generation Internet ETF(ARKW.US$ ) sold 809,441 shares of GBTC for approximately $28 million.
A disclosure from ARK shows that ARK Next Generation Internet ETF ( $ARK Next Generation Internet ETF(ARKW.US$ ) sold 809,441 shares of GBTC for approximately $28 million.
After this latest sale, the investment firm is left with 3.4 million GBTC shares ($117.4 million), down from a high of around 9 million shares in July 2021.
ARKW bought the GBTC shares at an average cost of $24.08, putting this sale in the black as GBTC is currently trading for $34.54.
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