Cathie Wood's Ark Invest Sells $3.8M In Grayscale Shares, Snaps Up $5.6M in Block - Decrypt
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Cathie Wood's Ark Invest Sells $3.8M In Grayscale Shares, Snaps Up $5.6M in Block
It is the second time in recent weeks that Cathie Wood's Ark has sold GBTC shares. Bitcoin bull Cathie Wood's Ark Invest has again sold off Grayscale Trust (GBTC) shares—this time worth around $3.8 million—and bought $
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Cathie Wood's Ark Invest has sold $3.8 million worth of Grayscale Trust (GBTC) shares and purchased $5.6 million in Block shares. This marks the second time in recent weeks that Ark Invest has sold off GBTC shares. The trading activity shows that Ark's Next Generation Internet fund sold GBTC shares while buying Block shares and adding them to various funds. Ark Invest is the second-largest holder of GBTC shares and Coinbase stock. Block is a Bitcoin-focused payments company founded by Jack Dorsey, the former CEO of Twitter.
Top Highlights
- Cathie Wood's Ark Invest Sells $3.8M In Grayscale Shares, Snaps Up $5.6M in Block It is the second time in recent weeks that Cathie Wood's Ark has sold GBTC shares.
- Bitcoin bull Cathie Wood's Ark Invest has again sold off Grayscale Trust (GBTC) shares—this time worth around $3.8 million—and bought $5.6 million in Block shares.
- Trading activity shows that Ark's Next Generation Internet fund (ARKW) sold 139,506 shares of GBTC shares while buying 113,326 shares of Block, Inc. and adding them to ARK Innovation ETF (ARKK), ARKW fund and Ark Fintech Innovation ETF (ARKF).
- It is the second time Ark Invest sold Grayscale shares in recent weeks: on October 24, Ark offloaded almost $5.8 million in Coinbase and GBTC shares after the price of Bitcoin boomed. Today GBTC is priced at $26.75 per share, a 0.74% dip since yesterday.
- Ark is the second-largest holder of GBTC shares. It is also the second-largest holder of Coinbase—America's biggest crypto exchange—stock.
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