Cathie Wood's ARK Invest Offloads Nearly $13M Worth of Grayscale Bitcoin Trust Shares
Summary
ARK Invest, led by Cathie Wood, sold approximately $12.85 million worth of Grayscale Bitcoin Trust (GBTC) shares from its Next Generation Internet (ARKW) ETF, marking the largest sale in over a year. The sale reduces ARKW's holdings in GBTC to a value of around $112.7 million, representing a 6.95% weighting. Grayscale's Bitcoin investment vehicle saw an 8.6% drop to $32.46 on Monday, mirroring a 5.8% decline in Bitcoin's market value. Furthermore, ARK Invest also sold $1.88 million worth of Coinbase shares on Monday, following a sale of over $100 million last week. Grayscale is still awaiting a decision from the U.S. Securities and Exchange Commission on its application to convert the Bitcoin Trust into a spot Bitcoin ETF in January.
