On the trading day of Monday, Ark Invest, under the guidance of Cathie Wood, executed a notable transaction by divesting more than $12.8 million in Grayscale Bitcoin Trust (OTC: GBTC) shares. This move took place against the backdrop of volatile cryptocurrency prices.
ARK Invest has recently conducted its most substantial sell-off of Grayscale Bitcoin Trust (GBTC) shares for the year, reducing the holdings in its ARKW ETF. This move resulted in ARKW's GBTC holdings decreasing to $112.7 million, constituting approximately 6.95% of its overall value.
The sell-off occurred amid changes in the market and a broader selling trend by ARK Invest. On Monday, Grayscale's Bitcoin Trust shares experienced an 8.6% decline, primarily influenced by a 5.8% drop in the value of Bitcoin. Notably, Grayscale is actively working towards transforming its Trust ETF into a spot Bitcoin ETF, pending approval from the U.S. Securities and Exchange Commission.
In addition to shedding GBTC shares, ARK Invest also divested $1.88 million worth of Coinbase shares on Monday. This move follows a previous sale of over $100 million of Coinbase stock just last week, emphasizing ARK Invest's ongoing adjustment of its investment portfolio in response to market dynamics and strategic considerations.
Photo by CardMapr.nl on Unsplash
コメント