Cathie Wood’s ARK drops 700K GBTC shares in one month
Cathy Wood's investment firm ARK Invest sold 700,000 shares of Greyscale Bitcoin Trust (GBTC) last month. .
ARK Next Generation Internet ETF (ARKW) sold 36,168 GBTC shares, unloading a total of 697,768 GBTC since Oct. 23, according to ARK's daily trading data displayed by Cointelegraph.
ARKW dropped about $1 million in GBTC because Greyscale's trust in 2015 It traded around $30 on Nov. 22, closing at $30.50, according to Google Finance data. US markets are closed for Thanksgiving on November 23.
ARK started selling shares of Greyscale Bitcoin Trust on October 23, 2023, when Bitcoin was heading towards $34,000. Prior to that, ARK's previous reported GBTC transaction was in November 2022, when the firm sold 450,272 GBTC shares.
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After selling nearly 700,000 GBTC shares last month, ARK's ARKW still holds $131.8 million worth of GBTC, or over 4.3 million GBTC shares. In the year As of November 24, Greyscale Bitcoin Trust accounts for 9.2% of ARKW's portfolio, ranking third after Coinbase and Roku, according to official ARKW data.
The ARK ETF, which has shed its funds, is down more than 68% and 271%, compared to data from Google Finance posted by Greyscale Trust.
Meanwhile, Bitcoin is up 125% YTD and reached $38,000 on November 16, the highest since May 2022, according to Cointelegraph Markets Pro.
Additional reporting by Helen Partz
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