ARK Invest trims its holdings
Cathie Wood's investment firm, ARK Invest, has sold 700,000 shares of the Grayscale Bitcoin Trust (GBTC) over the past month. This move comes despite the recent surge in Bitcoin (BTC) prices and the anticipation of a spot Bitcoin exchange-traded fund (ETF).
ARKW offloads GBTC shares
The ARK Next Generation Internet ETF (ARKW) sold a total of 36,168 GBTC shares on November 22, offloading a staggering 697,768 GBTC shares since October 23. This information is based on ARK's daily trading data seen by Cointelegraph.
ARK's GBTC holdings
As of now, ARKW still holds $131.8 million worth of GBTC, which is equivalent to more than 4.3 million GBTC shares. Grayscale Bitcoin Trust accounts for 9.2% of ARKW's portfolio, ranking third after Coinbase and Roku.
Performance comparison
The ARK ETF that sold the GBTC shares has seen a year-to-date increase of over 68%, in contrast to the 271% increase posted by Grayscale's trust. Meanwhile, Bitcoin itself has surged by 125% YTD and came close to reaching $38,000 on November 16, the highest since May 2022.
Additional reporting by Helen Partz.
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