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Cathie Wood's Ark Invest Trims Bitcoin Exposure, Sells $2.9M Worth Of GBTC Shares Amid Crypto Market Volatility

Benzinga ·  12/08/2023 11:10

On Thursday, Cathie Wood-led Ark Invest made a significant move by selling nearly $2.9 million worth of Grayscale Bitcoin Trust (OTC:GBTC) shares. This decision comes amidst a fluctuating crypto market and Ark's strategic adjustments in their crypto holdings. Notably, the apex cryptocurrency, Bitcoin (CRYPTO: BTC) was seen trading by nearly 1% at $43,523.72 at the time of publishing. The second-largest coin by market cap, Ethereum (CRYPTO: ETH) was up nearly 6% at $2,382.43. The mixed performance of large cryptocurrencies was attributed to increasing fears of a "bull trap" by traders.The GBTC TradeOn Thursday, Ark sold 86,159 units of the Bitcoin Investment

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