Posted 12/12/2023, 9:39:00 AM
ARK Invest Sells $14M in Bitcoin and Crypto Assets Amid Price Drop and Pending Grayscale Bitcoin ETF Decision
- Cathie Wood's ARK Invest sold $12.85M worth of Grayscale Bitcoin Trust (GBTC) shares from its Next Generation Internet ETF (ARKW) on Monday
- This was the biggest GBTC sale by ARK in over a year; ARKW still holds $112.7M worth of GBTC (6.95% weighting)
- Grayscale Bitcoin Trust dropped 8.6% on Monday, reflecting the 5.8% decline in the price of bitcoin
- Grayscale hopes to convert the Bitcoin Trust into a spot bitcoin ETF in January, pending SEC decision
- ARK also sold $1.88M worth of Coinbase shares on Monday, following sale of over $100M last week