Cathie Wood’s investment firm ARK Invest has sold 700,000 Grayscale Bitcoin Trust (GBTC) shares in the past month, even as Bitcoin (BTC) tumbles amid excitement over a possible spot Bitcoin exchange-traded fund (ETF) Hitting 17-month high.
ARK daily trading data seen by Cointelegraph shows that the ARK Next Generation Internet ETF (ARKW) sold 36,168 GBTC shares on November 22, for a total of 697,768 GBTC sold since October 23.
According to Google Finance, on November 22, Grayscale Trust traded at about $30 and closed at $30.50, and ARKW sold about $1 million of GBTC. data. US markets were closed on November 23 for Thanksgiving Day.
ARK began selling Grayscale Bitcoin Trust shares on October 23, 2023, when the price of Bitcoin reached $34,000. Prior to this, ARK’s last reported GBTC transaction was in November 2022, when the company sold 450,272 GBTC shares.
related: Grayscale meets with SEC to discuss spot Bitcoin ETF details
After selling nearly 700,000 GBTC shares in the past month, ARK’s ARKW still holds $131.8 million worth of GBTC, over 4.3 million GBTC shares. As of November 24, Grayscale Bitcoin Trust accounted for 9.2% of ARKW’s investment portfolio, ranking third after Coinbase and Roku. according to Refer to ARKW official data.
The ARK ETF, which sells the funds, is up more than 68% year to date, while the Grayscale trust has posted gains of more than 271%, according to Google Finance. data.
Meanwhile, Bitcoin has risen 125% year to date and was close to $38,000 on November 16, its highest level since May 2022, according to Cointelegraph Markets Pro.
Additional reporting by Helen Patz.
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