Posted 11/27/2023, 9:38:00 AM
ARK Invest Sells Off Grayscale Bitcoin Trust Shares, Earning $16.9 Million in November as Discount to NAV Shrinks
- ARK Invest sold 163,722 shares of Grayscale Bitcoin Trust (GBTC) last week, earning $5.02 million
- ARK has sold 579,077 GBTC shares in November, earning about $16.9 million
- GBTC's discount to net asset value narrowed to 8.6% on Friday - the lowest since July 2021
- The shrinking discount signals growing optimism that a spot bitcoin ETF will be approved in the U.S.
- The discount hit an all-time low of almost 50% in December 2021