Cathie Wood’s ARK sells Grayscale Bitcoin Trust shares as BTC hits $34K
The Grayscale Bitcoin Trust is the largest asset held by the ARK Next Generation Internet ETF, accounting for more than 10% of its portfolio. Investment firm ARK is selling Grayscale Bitcoin Trust (GBTC) shares amid a market surge fueled by anticipation of a spot BTC exchange-traded fund (ETF). On Oct. 23, ARK — headed by pro-Bitcoin (BTC) investment veteran Cathie Wood — sold 100,739 GBTC shares ($2.5 million) from ARK Next Generation Internet ETF (ARKW), according to a trade notification seen by Cointelegraph. The transaction comes as GBTC touched multi-month highs, reaching $24.7 for the first time since May 2022. According to data from TradingView, GBTC has surged more than 200% year-to-date and is up nearly 30% over the past 30 days. The GBTC sale marks ARK’s first officially reported GBTC transaction since November 2022, when the firm added 450,272 GBTC shares worth $4.5 million to ARKW. The latest GBTC sale amount accounts for about 2% of all GBTC value in ARKW’s portfolio, ...