ARK Invest Sells Some Bitcoin Trust Shares Amid Crypto Rally

Cathie Wood's ARK Invest sold around $2.5 million in Grayscale Bitcoin Trust (GBTC) shares, about 2% of its holdings.

The sale came as bitcoin rose above $34,000 for the first time in 18 months.

ARK is the second-largest holder of GBTC shares with around 5.6 million.

Bitcoin's rise is attributed to anticipation of a spot bitcoin ETF approval by the SEC.

ARK also sold Coinbase shares and bought Robinhood shares, moving in and out of crypto-related assets.