Cathie Wood’s funding agency, ARK Invest, has bought 700,000 shares of the Grayscale Bitcoin Trust (GBTC) over the previous month, whilst Bitcoin (BTC) hit 17-month highs over pleasure for a doable spot Bitcoin exchange-traded fund (ETF).
The ARK Next Generation Internet ETF (ARKW) bought 36,168 GBTC shares on Nov. 22, offloading a complete of 697,768 GBTC since Oct. 23, in keeping with ARK’s every day buying and selling information seen by Cointelegraph.
ARKW offloaded roughly $1 million in GBTC as Grayscale’s belief traded round $30 on Nov. 22, closing at $30.50, per Google Finance data. United States markets closed on Nov. 23 for Thanksgiving.
ARK started selling Grayscale Bitcoin Trust shares on Oct. 23, 2023, as Bitcoin was heading towards $34,000. Before that, ARK’s earlier reported GBTC transaction was in November 2022, when the firm sold 450,272 GBTC shares.
Related: Grayscale met with SEC to discuss spot Bitcoin ETF details
After promoting almost 700,000 GBTC shares over the previous month, ARK’s ARKW nonetheless holds $131.8 million value of GBTC, or greater than 4.3 million GBTC shares. As of Nov. 24, Grayscale Bitcoin Trust accounts for 9.2% of ARKW’s portfolio, ranked third after Coinbase and Roku, according to the official ARKW information.
The ARK ETF that offloaded the funds is up over 68% year-to-date in comparison with the over-271% posted by Grayscale’s belief, per Google Finance data.
Meanwhile, Bitcoin is up 125% YTD and neared $38,000 on Nov. 16, the very best since May 2022, per Cointelegraph Markets Pro.
Additional reporting by Helen Partz.
Magazine: Asia Express: HTX hacked again for $30M, 100K Koreans test CBDC, Binance 2.0
