Cathie Wood's ARK Invest Sells $5.02M Worth of Grayscale Bitcoin Trust Shares in a Week

3 months ago
Cathie Wood's ARK Invest sold 163,722 shares of Grayscale Bitcoin Trust last week, totaling $5.02 million based on closing prices. This brought ARK's total GBTC sales in November to 579,077 shares for approximately $16.9 million. The sale occurred as GBTC's discount to net asset value narrowed to its lowest point since July 2021, at 8.6%, indicating rising optimism that a bitcoin ETF may soon be approved in the US. In the past, ARK has sold crypto-related holdings when their prices rise, taking profits, after initially accumulating them during downtrends.