ARK Sold $6 Million in Grayscale Bitcoin Trust Shares During a Rally

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Last Updated on November 14, 2023 by Bitfinsider

Cathie Wood’s ARK Invest sold nearly 200,000 shares of Grayscale Bitcoin Trust (GBTC) on November 10th, after the BTC investment vehicle gained roughly 10% in the previous week.

According to an emailed report, ARK sold 201,047 GBTC shares from its Next Generation Internet ETF (ARKW). Based on the closing price on Friday, the shares were valued at $6.03 million. GBTC remains ARKW’s biggest investment, with a 9.97% weighting worth around $132 million.

Last week, GBTC shares increased about 10%, from roughly $27.35 to little under $30. In 2023, the trust has increased over 250%, nearly double the gain of bitcoin (BTC), which is up roughly 123% this year.

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